Federal Signal upgraded to Overweight from Sector Weight at KeyBanc

KeyBanc analyst Steve Barger last night upgraded Federal Signal (FSS) to Overweight from Sector Weight with a $110 price target The firm is “impressed” with the company’s strategic decisions about whom to compete against and how to continuously advance its competitive advantages. It believes Federal Signal will continue driving solid growth via share gains, research initiatives, pricing, and expanded aftermarket offerings through its network of service centers. KeyBanc thinks successful execution of these strategies will make Federal Signal “increasingly hard to compete with for smaller competitors.”