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LeapFrog Upgraded on Oversold Sentiment by BMO

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LeapFrog Enterprises, Inc. (NYSE:LF) is trading 2 percent higher in on an upgrade from BMO Capital Markets. LeapFrog’s recent revelation that earnings in the fourth quarter would be below prior expectations as a result of current weak in retail sales initiated a selling frenzy for the stock and prompted several downgrades of the stock. But BMO believes that the shares are too oversold. In addition, BMO sees a lot of upside in owning LeapFrog at the current suppressed price level because the company is still the leader in educational toys. As result, LeapFrog was upgraded to outperform from market perform. The price target was kept at $10 a share.