Shipbuilder Upgraded

A Credit Suisse analyst has upgraded General Dynamics from neutral to outperform.The analyst,Robert Spingarn,raised its price target from 70.00 to 74.00.Mr.Spingarn feels the market has yet to factor in the stability of GD's defense programs in 2011-12,coupled with potential strong recovery growth in aerospace in that time frame.Besides building submarines and utility ships for the Naval Fleet Auxiliary Force and Military Sealift Command,as well as littoral combat ships,GD produces the Gulfstream line of business jets,which are widely used by governments and corporations.The company is headquartered in Falls Church,Virginia.It was founded in 1952.