NEW YORK ( TheStreet) -- Tollgrade Communications (Nasdaq: TLGD) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

Tollgrade Communications, Inc. designs, engineers, markets, and supports test system, and status monitoring hardware and software products for the telecommunications and power utility markets in the United States and internationally. Tollgrade has a market cap of $127.6 million and is part of the technology sector and computer hardware industry. Shares are up 7.8% year to date as of the close of trading on Wednesday.

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