Fresh CEO, Revived Construction - DA Davidson Upgrades L.B. Foster (FSTR) to Buy

DA Davidson upgraded L.B. Foster (NASDAQ: FSTR) from Neutral to Buy with a price target of $42.00 (from $30.00).

"In the coming months we see a resolution to Foster’s long ordeal with UNP as a positive catalyst, as investors refocus on earnings and prospects," said analyst Brent Thielman.

"Spending on rail infrastructure is very strong, tubular is operating at record levels with room for growth and revived construction offers the next big positive swing to earnings. A cash-rich balance sheet and fresh CEO also offer exciting prospects in the coming years," he said.

For an analyst ratings summary and ratings history on L.B. Foster click here. For more ratings news on L.B. Foster click here.

Shares of L.B. Foster closed at $31.13 yesterday.

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