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Upgrade Alert for Anixter International (AXE)

By Shiri Gupta

Anixter International (NYSE:AXE) was upgraded from In-Line to Outperform at Imperial Capital today. The stock closed yesterday at $65.00 on volume of 176,000 shares, below average daily volume of 279,000.

In the past 52 weeks, Anixter International share prices have been bracketed by a low of $37.61 and a high of $71.99 and closed yesterday at $65.00, 73% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.9%.

Anixter International Inc. distributes communications and specialty wire and cable products. The Company distributes wiring systems for voice, data, and video networks and electrical power applications in North America, Europe, Asia, and Latin America.

Potential upside of 20.8% exists for Anixter International, based on a current level of $65.00 and analysts' average consensus price target of $78.50. Anixter International shares have support at the 200-day moving average (MA) of $57.31 and additional support at the 50-day MA of $51.76.

SmarTrend is monitoring the recent change of momentum in Anixter International. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Anixter International in search of a potential trend change.

Keywords: analyst upgrades/downgrades anixter international

Ticker(s): AXE