UPDATE: Imperial Capital Upgrades Orion Marine Group

In a note issued Monday morning, Imperial Capital analyst Scott Levine upgraded shares of Orion Marine Group, Inc. ORN from In-Line to Outperform and raised the price target from $12 to $13.

Levine commented, "We expect ORN to benefit from a multi-year uplift in marine construction activity, given its strong asset base, attractive regional footprint, and turnkey construction capabilities."

On the back of the above items and a strong third quarter, Levine has raised his EPS estimates for 2014-2016 from $0.12, $0.40, and $0.70 to $0.17, $0.42, and $0.74, respectively.