Shares of Alliance Imaging Inc., an Anaheim medical scanning company, were upgraded to “hold” from “buy” Friday by a Deutsche Bank Securities analyst.
Wall Street responded shares were up 4% in midday New York trading.
In a client note, analyst Darren Lehrich said Alliance was progressing well with its growth and diversification strategy, which includes providing radiation oncology services for cancer.
Alliance should also be able to use its money in a manner that would be beneficial to earnings and to sustain a profitable base business going forward, Lehrich said.
Alliance shares carried a market value of $436 million at a recent check.
