Pike Electric Corporation (PEC) jumped more than 8% on Thursday after a Friedman, Billings, Ramsey analyst upgraded the stock to an Outperform rating and increased its price target to $21. The stock gapped open sharply higher and continued to climb throughout the morning. While the stock pared some of its gain in the afternoon, it still closed up $1.35 at $17.45 on heavy volume.
Thursday's gain pushed the stock above resistance and the stock crosses its 200-day moving average to set a seven month closing high.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.