(Reuters) - L.B. Foster shares rose almost 13 percent to $33.24 in
morning trade on the Nasdaq. In midday trade, they were up more
than 6.5 percent at $31.36 in an overall weak market.
The company will benefit as rail infrastructure spending
continues to grow as railroads work to reduce bottlenecks in
their networks, Robert Damron of 21st Century Equity Research
said.
Highway and commercial construction activity were also
driving demand for Foster's piling products, while expansion of
natural gas pipelines would boost its tubular segment, Damron
said in an e-mail.
Read more at Reuters.com Market News
morning trade on the Nasdaq. In midday trade, they were up more
than 6.5 percent at $31.36 in an overall weak market.
The company will benefit as rail infrastructure spending
continues to grow as railroads work to reduce bottlenecks in
their networks, Robert Damron of 21st Century Equity Research
said.
Highway and commercial construction activity were also
driving demand for Foster's piling products, while expansion of
natural gas pipelines would boost its tubular segment, Damron
said in an e-mail.
Read more at Reuters.com Market News
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