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Upgrade Alert for AstraZeneca (AZN)

By David Diaz

AstraZeneca (NYSE:AZN) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $33.30 on volume of 2.5 million shares, below average daily volume of 3.7 million.

AstraZeneca PLC is a holding company. Through its subsidiaries, the Group researches, manufactures and sells pharmaceutical and medical products. The Group focuses its operations on seven therapeutic areas: Gastrointestinal, Oncology, Cardiovascular, Respiratory, Central Nervous System, Pain Control, Anaesthesia and Infection.

AstraZeneca has overhead space with shares priced $33.30, or 22.6% below the average consensus analyst price target of $43.05. The stock should find initial support at its 200-day moving average (MA) of $32.02 and further support at its 50-day MA of $29.04.

AstraZeneca share prices have moved between a 52-week high of $70.67 and a 52-week low of $26.97 and closed yesterday at 23% above that low price at $33.30 per share. Over the past week, the 200-day moving average (MA) has gone down 2.4% while the 50-day MA has declined 0.2%.

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

Keywords: analyst upgrades/downgrades AstraZeneca

Ticker(s): AZN