KeyBanc Upgrades Federal Signal (FSS) to Buy

December 3, 2012 2:15 PM EST
Get Alerts FSS Hot Sheet
Price: $15.61 --0%

Rating Summary:
    2 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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KeyBanc upgraded Federal Signal (NYSE: FSS) from Hold to Buy with a price target of $9.00.

The firm comments, "We recently visited FSS's headquarters to meet with CEO Dennis Martin and other members of management and walked away feeling more constructive about the story than we have in several years. Broadly speaking, we think that Mr. Martin and his team have taken and are taking a thoughtful and methodical approach toward pricing, operational and organizational restructuring, and balance sheet actions. Those actions, in our view, now provide a foundation for what we think will be more predictable earnings growth and more consistent cash flow generation."

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

Shares of Federal Signal closed at $5.88 yesterday.

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