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

May 4, 2012 12:23 PM EDT
Get Alerts GEOY Hot Sheet
Price: $35.83 --0%

Rating Summary:
    4 Buy, 6 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 10 | Down: 16 | New: 50
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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.

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