KeyBanc Upgrades Gibraltar Industries (ROCK) to Buy; Recent Sell-Off Provides Opportunity

KeyBanc upgraded Gibraltar Industries (NASDAQ: ROCK) from Hold to Buy with a price target of $17.00.

KeyBanc analyst said, "We are upgrading Gibraltar Industries following management meetings that affirmed: 1) our confidence that its U.S. industrial
(energy/chemical) markets will continue growing; 2) its national distribution is gaining U.S. residential share (gutter, roofing items); and 3) ongoing M&A remain an upside possibility. We think the significant sell-off post weak 4Q11 results (tied to high SG&A reflecting stock appreciation) represents an attractive entry point, with our $17 price target (21x/15x our 2012E/2013E EPS) within past trading ranges."

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

Shares of Gibraltar Industries closed at $13.70 yesterday.

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