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Upgrade Alert for Alere (ALR)

By Nick Russo

Alere (AMEX:ALR) was upgraded from Neutral to Buy at BTIG today. The stock closed yesterday at $39.27 on volume of 1.0 million shares, below average daily volume of 1.9 million.

Alere, Inc. offers patient diagnosis, monitoring and health management services. The Company produces consumer and professional medical diagnostic products, and remotely monitors patients for pre-eclampsia, and patients who are prescribed Warfarin for atrial fibrillation.

Alere has overhead space with shares priced $39.27, or 24.1% below the average consensus analyst price target of $51.71. The stock should run into initial resistance at its 200-day moving average (MA) of $47.03 and subsequent resistance at its 50-day MA of $49.07.

Over the past year, Alere has traded in a range of $31.47 to $55.99 and closed yesterday at $39.27, 25% above that low. The 200-day and 50-day moving averages have moved 0.49% lower and 2.15% lower over the past week, respectively.

SmarTrend is tracking the current trend status for Alere and will alert subscribers who have ALR in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades amex:alr alere

Ticker(s): ALR