Shares of Bramwell Logistics rose 6 percent Thursday after three analysts upgraded the stock, citing its recent increase in price.
“Momentum is a signal,” wrote one analyst, raising the target price by 18 percent. “The market is telling us something, and what it is telling us is that the price is higher than it was.”
A second analyst upgraded the stock from “hold” to “buy” and noted that the upgrade was itself a reason to buy. A third downgraded it, then upgraded it again after it rose.
Bramwell has not reported earnings since August and has not changed its guidance since March.
