(AMB) - Following the most recent report, four of the eight covering analysts raised their forecasts for 2006

A recent rise in full-year expectations has poised AMB Property Corporation (AMB) to potentially break through an important resistance level. The stock is in a position to post a close above $53 for the first time since March. The company has history of surprising to the upside, having surpassed expectations during four of the past five quarters. As a result, analysts are taking notice. Following the most recent report, four of the eight covering analysts raised their forecasts for 2006 FFO. The revisions led to a five-cent increase in the consensus estimate over the past week to $3.06 per share. Notably, one of the analysts also raised his forecast for 2007. The bullish earnings news and positive estimate revisions have helped contributed to a four-week, 4.27% increase in the stock's price. Comparatively, the S&P 500 has declined during the same period. At its current level, AMB is testing resistance at $53. The stock has not closed above $53 since March, so a breakout would be bullish. There is limited resistance above this level, with the 52-week high sitting at $56.53. An impetus for AMB to move to the high $50s could come from further positive estimate revisions. Four of the covering analysts have yet to adjust their forecasts in response to the better than expected second-quarter numbers. Background AMB develops and owns industrial real estate both in the U.S. and internationally. Last week, AMB blew away second-quarter expectations with funds from operations (FFO) of 87 cents per share; analysts had projected FFO of 73 cents per share. Industrial portfolio occupancy rose 90 basis points to 95.4% from a year prior. Note: The Zacks Rank is a very sensitive indicator that can change frequently for an individual stock. This important indicator is updated daily on Zacks.com and is available to Zacks Premium subscribers. As such, it is prudent to check the site for the latest Zacks Rank on the stocks highlighted in this section. Simply click the link for the stock or enter the symbol in the ticker entry box in the upper left hand corner of the web site. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. Blog Home