UPDATE: Raymond James Upgrades PC Connection

Earlier Friday, Raymond James published a research note in which CFA Brian Alexander upgraded shares of PC Connection PCCC from Underperform to Market Perform.

As reason for the upgrade, Alexander cited:

• "Very consistent" execution
• Growth out pacing peers
• Increased traction in higher margins solutions
• A "more reasonable" valuation

In conjunction with upgrade, Alexander has raised his 2015 revenue and EPS estimates from $2.46 billion and $1.60 to $2.42 and $1.63, respectively.

Shares of PC Connection have risen about 2.8 percent.