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The election of President Obama and a Democratically controlled Congress has been a boon to U.S. handgun makers, with sales of one pistol manufacturer climbing enough that an analyst Wednesday upgraded its stock to "Strong Buy" from "Accumulate."

CL King & Assoc. analyst Jim Barrett upgraded shares of Sturm, Ruger & Co. after the Southport, Conn.-based company reported its firearm revenue soared 81 percent in the fourth quarter.
"We are raising our rating, recognizing that sales are benefiting from what is clearly a one-time surge in gun sales due to the arrival of the new Democratic administration," Barrett said.