UPDATE: Deutsche Bank Upgrades LMI Aerospace to Buy: Valuation Discount Too Low

Deutsche Bank raises its rating on LMI Aerospace

from Sell to Buy and maintains its price target of $24. Deutsche Bank says, "Recent sell-off provides compelling valuation opportunity With about 70% of sales to commercial aerospace, we see LMI as one of the best-positioned “below the radar” names to benefit from an increase in OEM sales. We view the stock's recent underperformance [down 17% in past 3mo vs. -2% for S&P] as a compelling valuation opportunity." LMIA closed at $16.21 on Wednesday.