Update: Mueller Industries Shares Rise After Higher Fiscal Q2 Results, Northcoast Research Upgrade
(Updates with share movement and analyst upgrade in the headline and first paragraph.)Mueller Industries (MLI) shares were up 5.1% in Tuesday afternoon trading after the company posted higher fiscal Q2 results, and Northcoast Research upgraded the stock to buy from neutral, with a $75 price target.The company reported fiscal Q2 earnings Tuesday of $1.13 per diluted share, up from $1.11 a year earlier.A single analyst polled by FactSet expected $1.02.Net sales for the quarter ended June 27 were $1.43 billion, compared with $1.14 billion a year earlier.One analyst expected $1.27 billion.Price: $62.00, Change: $+3.03, Percent Change: +5.14%