Standpoint Research Upgrades American Apparel (APP) to Buy

Standpoint Research upgraded American Apparel (NYSE: APP) from Hold to Buy with a price target of $3.50.

Analyst Ronnie Moas comments: "On March 7 I downgraded APP @ $1.88 and locked in a 73% gain on a position we were in for just over six months ... I was concerned we would get a reversal as we did in October when the shares broke down following a similar run. During the last two weeks we did not get that correction and I see this as a bullish sign.