Stock Track | Ducommun Soars 7% After Goldman Sachs Upgrades to 'Buy'

Stock Track08-13

Shares of Ducommun (DCO) surged as much as 7.18% in intraday trading on Monday, following an analyst upgrade from Goldman Sachs. The aerospace and defense company's stock rallied after Goldman Sachs raised its rating on DCO to "Buy" from "Neutral" and increased its price target to $80 from $64.

In a research note, Goldman Sachs analysts cited Ducommun's strong growth prospects and improving fundamentals as reasons for the upgrade. The investment bank now expects DCO to outperform its peers in the aerospace and defense sector.

Analyst upgrades and higher price targets are often viewed as positive signals by investors, as they reflect improved expectations and outlook for a company's future performance. Such upgrades can drive increased demand for a stock, leading to price appreciation.

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