Federal Signal upgraded to "buy" - update

01/25/08 - KeyBanc Capital Markets

NEW YORK, January 25 (newratings.com) - Analysts at KeyBanc Capital Markets upgrade Federal Signal Corporation (FSS) from "hold" to "buy." The target price is set to $14.

In a research note published this morning, the analysts mention that the company’s share price is likely to be boosted in the near term by the appointment of a CEO and potential dealership and market share gains as a result of troubles at its competitor, American LaFrance & Seagrave. Rhe appointment of Guile as the CEO of E-One is likely to lead to a rise in orders and improved profitability going forward, the analysts add.