Upgrade Alert for BHP Billiton (BHP)
BHP Billiton (NYSE:BHP) was upgraded from Underperform to Neutral at Macquarie today. The stock closed yesterday at $31.50 on volume of 3.2 million shares, below average daily volume of 4.6 million.
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.
Potential upside of 41.5% exists for BHP Billiton, based on a current level of $31.50 and analysts' average consensus price target of $44.56. BHP Billiton shares have support at the 200-day moving average (MA) of $29.28 and additional support at the 50-day MA of $27.25.
Over the past year, BHP Billiton has traded in a range of $18.46 to $52.43 and closed yesterday at $31.50, 71% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 0.7%.
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