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PPR - PII pocket pivot upside reversal

PII- This maker of utility vehicles reported earnings today. At first, they were ill-received causing the stock to have a mini-gap down. But current trade shows a reversal of fortune. A reversal to the upside is a powerful pattern which, together with increasing institutional sponsorship 8 quarters in a row, outweighs the caveats (see below). We would suggest a half position in this stock since it is not flawless.

Positives: Overall rating 97, industry group 65th out of 202 groups, institutional sponsorship has increased 8 quarters in a row.

Caveats: Earnings are slowing, sees FY12 EPS $3.65-$3.80 vs consensus $3.77.

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