Gibraltar Industries climbs 9% on analyst upgrade to ‘buy’

Gibraltar Industries Inc. (Nasdaq:ROCK) is up 9% today after analysts at Piper Jaffray upgraded the Buffalo, N.Y.-based company ahead of the opening to “buy” from “neutral.” The research firm also increased the price target to $16 from $15.50. Gibraltar produces and distributes commercial and residential building products. Piper Jaffray said the upgrade was due to better operating margins and commodity-based price increases on steel products.

In today’s trading, shares are at $13.62 at 9:42 a.m. ET, up $1.16 from Friday’s close. During the past 52 weeks, shares have ranged between $9.59 and $23.44.

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