GeoEye (GEOY) Shares Move Higher as Benchmark Upgrades to Buy

Article Stock Quotes (2) Comments (0)

Shares of GeoEye (NASDAQ: GEOY) have pushed higher over the last few minutes of trade as Benchmark's Josephine Millward just upgraded the stock to Buy in an intraday research note.

The upgrade follows news this morning the company has proposed to acquire DigitalGlobe (NYSE: DGI) for $17 per share.

Millward said, "we agree with GeoEye management that the combined entity would be better positioned in a constrained budget environment, with significant synergies." Still, the analyst said "DGI shareholders are unlikely to approve the takeover without a higher bid."

For an analyst ratings summary and ratings history on GeoEye click here. For more ratings news on GeoEye click here.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: BofA/Merrill Lynch Upgrades Adobe (ADBE) to Buy
• Barclays Upgrades CEMEX (CX) to Overweight
• Baird Upgrades Ball Corp (BLL) to Outperform

Create E-mail Alert Related Categories

Upgrades

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?