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Upgrade Alert for BB&T (BBT)

By Shiri Gupta

BB&T (NYSE:BBT) was upgraded from Market Perform to Outperform at Fig Partners today. The stock closed yesterday at $34.38 on volume of 3.5 million shares, below average daily volume of 5.5 million.

BB&T Corporation operates banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.

BB&T share prices have moved between a 52-week high of $41.90 and a 52-week low of $29.95 and closed yesterday at 15% above that low price at $34.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.4%.

There is potential upside of 22.1% for shares of BB&T based on a current price of $34.38 and an average consensus analyst price target of $41.96. BB&T shares should encounter resistance at the 200-day moving average (MA) of $35.95 and support at the 50-day MA of $34.09.

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

Keywords: analyst upgrades/downgrades BB&T

Ticker(s): BBT