UPDATE: Hot Topic (HOTT) Shares Rise as B. Riley Upgrades Amid M&A Speculation

(Updated - May 2, 2012 12:20 PM EDT)

Shares of Hot Topic (NASDAQ: HOTT) have moved sharply higher Wednesday following an earlier upgrade from B. Riley. The stock last traded at $10.31, up 4.6 percent for the session.

The firm now rates Hot Topic shares a Buy, up from Neutral previously. B. Riley said Hot Topic could be an "attractive" takeover target given recent deals for PF Chang's (Nasdaq: PFCB) and Charming Shoppes (Nasdaq: CHRS).

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

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