FBR Capital Upgrades Force Protection (FRPT) to Market Perform
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- FBR Capital Upgrades Force Protection (FRPT) to Market Perform
- FBR Capital Upgrades Force Protection (FRPT) to Market Perform
FBR Capital upgrades Force Protection, Inc. (Nasdaq: FRPT) from Underperform to Market Perform with a $6 price target, following better-than-expected Q3 results.
Commenting on the price objective, the firm said "although our longer-term price target is $6.00, we think that the stock will likely trade as high as $8.00 to $9.00 in the near term, given recent strength on certain programs during the quarter, including the Buffalo, Force Armor, and independent suspension kits." Although they said it is tough to make the case that these performance levels are sustainable.
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