Shares of Pall Co. (NYSE: PLL) are soaring following an analyst upgrade following news last Friday that its CEP is retiring.

Shares of the filtration equipment manufacturer are 11.88 percent as of 3:02 p.m. (New York time).

Credit Suisse analysts upgraded shares of Pall from a “neutral” rating to an “outperform” rating. Credit also boosted the price target on the stock to $66.00 from $54.00.

Moreover, Credit analyst Hamzah Mazari said the change in CEO increasd the chances of Pall either being acquired or combining with another company.