Piper Jaffray Upgrades ATA Inc. to Neutral (ATAI)

Piper Jaffray upgraded ATA Inc. ATAI shares from Underweight to Neutral today. Piper Jaffray maintained its $3 price target on the stock. In a research report, Piper Jaffray notes its upgrade was because analysts "believe the shares have limited downside from here, as we don't see a negative catalyst on the horizon to drive the shares lower." Further, Piper Jaffray comments that "while our sensitivity analysis regarding the security guard test suggests significant earnings power from this test, we lack visibility as to the timing of this test and the timing and magnitude of the corresponding positive earnings impact." ATA Inc. is a provider of computer-based testing services. Shares are 1.7% today, to $2.95 a share.