This morning, FBR upgraded shares of Force Protection (NASDAQ:FRPT) from Underperform to Market Perform as the company reported better than expected results. The company expects the stock to rise in the near term as units within the company are showing strength in the quarter, but also question whether these results are sustainable in the long term. With the upgrade, FBR set a price target of $6 per share.
Shares of Force Protection climbed on the news, adding almost five percent so far this morning.
LAN Airlines (NYSE:LFL) saw its shares upgraded this morning by Credit Suisse as the firm sees a better outlook for cargo in 2010. The firm raised its rating from Underperform to Neutral and raised its EPS estimates for both 2009 and 2010. With the upgrade, Credit Suisse upped its price target from $13 per share up to $16.
In morning trading, shares of LAN Airlines were trading modestly higher, up about one half of one percent.
And Morgan Stanley increased its EPS estimates for FedEx (NYSE:FDX) all the way through 2012 as the company is expected to show improvements to its earnings as the GDP recovers. Also boosting the bottom line will be the higher demand out of Asia and the continued weakness of the US dollar. Morgan Stanley maintains its Equal Weight rating on the stock.
Shares of FedEx were trading a little below the breakeven mark this morning, off about one half of one percent right now.
For MarketNewsVideo.com, I'm Angela Salvucci.
