UPDATE: Taglich Brothers Upgrades UFP Technologies to Speculative Buy on Attractive Valuation

Taglich Brothers raises its rating on UFP Technologies

from Neutral to Speculative Buy and establishes a price target of $18.50 a share. Taglich Brothers comments, "The company's revenue growth has slowed over the past three quarters due to the loss of a significant portion of a long-term automotive program. However, the projected growth of the automotive industry (averaging approximately 5% over the next two years) should help to offset in part the lost sales from this program. Also, UFP is scheduled to launch a new door panel program for Cadillac ATS and XTS vehicles starting in June 2012." UFPT closed at $16.16 on Wednesday.