Rochester, NY 8/25/2009 6:52:25 AM
Exide Technologies XIDE ,Exide Technologies Rating Raise Improve on battery maker
Exide Technologies
An analyst Thomas Weisel Partners said battery maker Exide Technologies should lift gross margins and the raised the company's rating to "Overweight" from "Market Weight.".Exide (XIDE - news - people) shares rose 11.7 percent, or 75 cents, to $7.06 in midday trading Friday. The company stocks traded at 52-week cost high of $14.42 last August and at a low of $1.83 in March.
As a result, Thomas Weisel has raised its fiscal 2010 estimate for adjusted earnings before interest, the EBITA amortization to $170 million from $130 million and the firm also adjusted EBITA of $250 million to $300 million in fiscal 2011 in the event of an economic recovery.
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