Keystone Automotive Industries upgraded to "buy"

12/19/06 - BB&T Capital Markets

NEW YORK, December 19 (newratings.com) - Analyst Anthony F Cristello of BB&T Capital Markets upgrades Keystone Automotive Industries Inc (KEYS) from "hold" to "buy." The 12-month target price is set to $36.

In a research note published yesterday, the analyst mentions that the company’s share price has declined by about 20% on news of the ongoing ITC litigation. Keystone Automotive Industries’ share price already reflects the downward pressure on the company’s earnings as well as the potential overhang from the ITC litigation, the analyst says.