Shares of Whirlpool (WHR) - Get Report swirled higher Thursday after a big analyst upgrade of the home appliance giant.

Whirlpool's stock price jumped 2.37% to $153.93 after analysts at J.P. Morgan raised their rating on the maker of refrigerators, dishwashers and other home appliances to overweight from neutral.

Whirlpool's sales in the United States are expected to stabilize in 2019 and show "modest growth" next year, the analysts wrote. The analysts also see steel prices "remaining at bay," with the company's European operations also turning a small profit in the second half of 2019.

In addition, Whirlpool's stock valuation is "inexpensive," offering up a buying opportunity for investors.

By contrast, KeyBanc last week lowered its rating on Whirlpool to sector weighting, down from overweight, warning of limited room to grow for the appliance maker's stock price after a strong 2019. Whirpool stock was trading at just under $131 a share six months ago.

Whirlpool beat second-quarter earnings and sales expectations in its last report in July, while also raising its guidance for the remainder of the year.

The home appliance manufacturer reported adjusted earnings of $4.01 a share, beating the consensus estimate of analysts at FactSet of $3.71 per share. Sales rose 0.9% to $5.19 billion, beating the $5.02 billion predicted by analysts surveyed by FactSet.

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