Furniture Brands International upgraded to "outperform"

07/26/06 - Morgan Keegan

NEW YORK, July 26 (newratings.com) - Analysts at Morgan Keegan upgrade Furniture Brands International Inc (FBN) from "market perform" to "outperform."

In a research note published this morning, the analysts mention that the 21% decline in the company’s share price since end-1Q appears overdone. The analysts expect Furniture Brands International to report its 2Q operating EPS at $0.36. The company is likely to achieve y/y margin expansion in 3Q, boosted by improved capacity utilization and stable raw material prices, Morgan Keegan adds.