Upgrade Alert for BHP Billiton (BHP)
BHP Billiton (NYSE:BHP) was upgraded from Underweight to Neutral at JP Morgan today. The stock closed yesterday at $28.57 on volume of 4.7 million shares, above average daily volume of 4.6 million.
There is potential upside of 56.0% for shares of BHP Billiton based on a current price of $28.57 and an average consensus analyst price target of $44.56. BHP Billiton shares should encounter resistance at the 200-day moving average (MA) of $29.28 and support at the 50-day MA of $27.25.
BHP Billiton Limited is an international resources company. The Company's principal business lines are mineral exploration and production, including coal, iron ore, gold, titanium, ferroalloys, nickel and copper concentrate, as well as petroleum exploration, production, and refining.
In the past 52 weeks, shares of BHP Billiton have traded between a low of $18.46 and a high of $52.43 and closed yesterday at $28.57, which is 55% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has advanced 1.5%.
SmarTrend is tracking the current trend status for BHP Billiton and will alert subscribers who have BHP in their portfolio or watchlist when shares have changed trend direction.
Keywords: analyst upgrades/downgrades BHP Billiton