As reported earlier, Johnson Rice analyst Martin Malloy upgraded Thermon Group to Accumulate from Hold and raised his price target to $29 from $25. Malloy says his recent opportunity to travel with the company management allowed him in infer an "improved greenfield project bidding environment combined with a strengthening MRO/UE market". The analyst adds that Thermon Group's recent acquisition of CCI Thermal Technologies has diversified its revenue stream into the transportation and natural gas fired power plant areas, while also forecasting expected cash flow generation and improving margins in backlog from improving end market demand.