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Analyst Rating In Review: BHP Billiton Sold Off 1.4% Since Downgraded 7 Days Ago (BHP)

By James Quinn

UBS downgraded BHP Billiton (NYSE:BHP) from Buy to Neutral a week ago. The stock closed at $34.49, which is 1.4% lower than the price one week ago ($34.98).

Potential upside of 29.2% exists for BHP Billiton, based on a current level of $34.49 and analysts' average consensus price target of $44.56. The stock should discover initial support at its 200-day moving average (MA) of $29.28 and subsequent support at its 50-day MA of $27.25.

SmarTrend recommended that subscribers consider buying shares of BHP Billiton on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.72. Since that recommendation, shares of BHP Billiton have risen 10.3%. We continue to monitor BHP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections BHP Billiton

Ticker(s): BHP