UPDATE: Collins Stewart Upgrades Arris Group to Buy

According to Collins Stewart, Arris Group ARRS is upgraded to Buy. Collins Stewart said that despite inline results/guidance and disappointing results from Moxi (Gateway STBs), it is upgrading the stock to a BUY rating and $15 PT. “We remain convicted that ARRS stands to benefit meaningfully from Gateway STB shipments in 2012.” Arris Group closed yesterday at $12.33.