Upgrade Alert for BRF - Brasil Foods (BRFS)
BRF - Brasil Foods (NYSE:BRFS) was upgraded from Neutral to Overweight at JP Morgan today. The stock closed yesterday at $12.50 on volume of 2.6 million shares, above average daily volume of 1.5 million.
There is potential upside of 31.1% for shares of BRF - Brasil Foods based on a current price of $12.50 and an average consensus analyst price target of $16.39. BRF - Brasil Foods shares should first meet resistance at the 50-day moving average (MA) of $13.94 and find additional resistance at the 200-day MA of $15.54.
BRF-Brasil Foods SA is a food processor in Latin America. The Company raises chickens to produce poultry products. Brasil Foods also processes frozen pastas, soybeans and their derivatives, and distributes frozen vegetables. The Company's core business is chilled and frozen food. The Company has offices in the Middle East, Asia, and Europe.
In the past 52 weeks, BRF - Brasil Foods share prices have been bracketed by a low of $11.05 and a high of $22.35 and closed yesterday at $12.50, 13% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has slid 1.1%.
SmarTrend recommended that its subscribers protect gains by selling shares of BRF - Brasil Foods on April 7th, 2016 by issuing a Downtrend alert when the shares were trading at $13.59. Since that call, shares of BRF - Brasil Foods have fallen 6.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades brf - brasil foods