UPDATE: Stifel Nicolaus Upgrades Quality Distribution to Buy

Stifel Nicolaus is out with its report today on Quality Distribution QLTY, upgrading QLTY to Buy from Hold. In its report, Stifel Nicolaus writes, "We are upgrading tank truck carrier Quality Distribution from Hold to Buy based on valuation. Our 12-month target price for QLTY is $14 (or 13.0x our 2013 EPS estimate of $1.05) and it provides 31% upside over the coming 12 months." Shares of QLTY closed Wednesday at $10.69.