NEW YORK ( TheStreet) -- Emerson Radio Corp (AMEX: MSN) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Emerson Radio Corp., together with its subsidiaries, engages in designing, sourcing, importing, marketing, selling, and licensing various consumer electronic and house ware products in the United States and internationally. The company has a P/E ratio of 3.8, equal to the average consumer durables industry P/E ratio and below the S&P 500 P/E ratio of 23.4. Emerson Radio has a market cap of $61.9 million and is part of the consumer goods sector and consumer durables industry. Shares are up 21.2% year to date as of the close of trading on Tuesday. You can view the full Emerson Radio Ratings Report or get investment ideas from our investment research center.