Wedbush upgraded Diebold (NYSE: DBD) from Neutral to Outperform with a price target of $40.00.

Analyst Gil Luria commented, "We believe Diebold will generate double digit organic earnings growth as focus on innovation is supplemented by accretive acquisitions and benefits of restructuring help raise margins, which we do not believe is reflected in current valuation (9x EBITDA and 15x EPS). We are therefore upgrading shares of DBD to OUTPERFORM from NEUTRAL."

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

Shares of Diebold closed at $32.97 yesterday.