Downgrade Alert for InterOil (IOC)
InterOil (AMEX:IOC) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $41.80 on volume of 239,000 shares, below average daily volume of 289,000.
InterOil Corporation is a Canadian company building a vertically integrated energy company whose primary focus is Papua New Guinea and the surrounding area. The company owns an oil refinery, upstream petroleum exploration licenses, and retail and commercial distribution assets. InterOil is also undertaking an extensive petroleum exploration program within its licensed area in New Guinea.
InterOil (AMEX:IOC) has potential upside of 34.5% based on a current price of $41.80 and analysts' consensus price target of $56.24. InterOil shares have support at the 200-day moving average (MA) of $33.86 and additional support at the 50-day MA of $30.67.
In the past 52 weeks, InterOil share prices have been bracketed by a low of $21.18 and a high of $61.15 and closed yesterday at $41.80, 97% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.9% while the 200-day MA has slid 0.8%.
SmarTrend is tracking the current trend status for InterOil and will alert subscribers who have IOC in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades amex:ioc interoil