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Upgrade Alert for American Equity Investment (AEL)

By Amy Schwartz

American Equity Investment (NYSE:AEL) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $16.71 on volume of 779,000 shares, below average daily volume of 1.3 million.

In the past 52 weeks, shares of American Equity Investment have traded between a low of $12.65 and a high of $30.02 and closed yesterday at $16.71, which is 32% above that low price. The 200-day and 50-day moving averages have moved 1.27% lower and 0.29% lower over the past week, respectively.

Potential upside of 90.3% exists for American Equity Investment, based on a current level of $16.71 and analysts' average consensus price target of $31.80. The stock should hit resistance at its 200-day moving average (MA) of $21.34, as well as support at its 50-day MA of $15.00.

American Equity Investment Life Holding Company develops, markets, issues, and administers annuities and life insurance products through its subsidiaries. The Company is a full-service underwriter of an array of annuity and insurance products, and is licensed to sell its products throughout the United States.

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

Keywords: analyst upgrades/downgrades american equity investment

Ticker(s): AEL