Global Hunter Securities upgraded Mine Safety Appliances (NYSE: MSA) from Neutral to Accumulate with a price target of $52.00. Analyst Walt Liptak sees a recent pullback as a buying opportunity.

"Our investment thesis is that MSA's headwinds from currency and O&G are now factored into the stock, and the energy exposure should bottom over the next 3-6 months. In local currency, MSA sales are expected to accelerate to a mid-singledigit growth rate driven by the new G1 SCBA product. We are increasing our 2015 EPS estimates to $2.41 from $2.38," said Liptak.

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Shares of Mine Safety Appliances closed at $47.53 yesterday.