New York, February 2 (FinanceEnquiry.com) - Analyst Leo Larkin of S&P Capital IQ upgrades the shares of Gibraltar Industries (NASDAQ: ROCK) from STRONG SELL to SELL, while raising his estimates for the company. The 12-month target price has been raised from $11 to $13.

In a research note published yesterday, the analyst mentions that the EPS estimates for 2011 and 2012 have been raised from $0.67 to $0.69 and from $0.89 to $0.90, respectively. Based on new target price, the shares would trade just below the mid-point of their historical range of the previous 10 years, the analyst says. The EPS growth of Gibraltar in the long term would be aided by non-residential construction markets and acquisitions, the analyst adds.