Upgrade Gives Insituform a Boost

The company's stock reaches a 52-week high.
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Underground-pipe repair company

Insituform Technologies

(INSU) - Get Report

was sharply higher Wednesday after an analyst upgraded its stock, saying it warranted a buy rating.

Stifel Nicolaus & Co. analyst Jeffrey Beach previously had a hold rating on Insituform. He also boosted his profit estimate to $1.10 a share from $1 a share for 2006.

In recent trading, shares of Chesterfield, Mo.-based Insituform were gaining $2.86, or 13.8%, to $23.64, surpassing the 52-week high of $22.94. The stock climbed to $23.85 intraday, and volume was four times the daily average.