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Schaeffer's Street Stories: Tyco International Ltd. Climbs on Upgrade to 'Neutral'

^{Published on 2009-02-18 11:24:41, Last Modified on 2009-02-18 11:25:11 - Market Wire}
 

CINCINNATI--([ BUSINESS WIRE ])--The shares of Tyco International Ltd. (NYSE: TYC) are enjoying modest gains this afternoon following an upgrade at Goldman Sachs from "sell" to "neutral." The brokerage firm stated that it no longer viewed the company as more risky than other companies in the industrials sector. "We remain wary of exposure to weak nonresidential and energy markets, but no more so than for other companies in our coverage," the firm wrote, adding that it continued to see a drop in consensus estimates across the industrials group.

The equity's gains today add to the stock's recent uptrend. The security has edged higher from its November low of $15.17, adding more than 53% as it has created a series of higher highs and higher lows. However, potential resistance resides at the 25 level -- site of both support and resistance for the shares.

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