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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