Mesa Labs upgraded to Equal Weight from Underweight at Wells Fargo

Wells Fargo upgraded Mesa Labs (MLAB) to Equal Weight from Underweight with a price target of $67, down from $100. The firm believes the recent sharp stock selloff appears overdone in the context of relatively stable fundamentals and clear balance sheet flexibility for Mesa Labs to redeem its outstanding converts due next week. Wells sees a more balanced risk/reward here at about 8-times EBITDA.