Pike Electric (PIKE +5.6%) rises after Stifel Nicolaus makes a valuation call, upgrading the...


Pike Electric (PIKE +5.6%) rises after Stifel Nicolaus makes a valuation call, upgrading the shares to Buy and setting a $14.50 price target. Having sold-off ~24% since earnings, including ~9% since announcing its secondary, the stock represents a bargain given that "the fundamental story is sound." As was the case the last time Stifel made a call on PIKE, the stock is trading on heavy volume (30% of the average 10-day volume has already changed hands in the first ~30 minutes of trading).

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