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Upgrade Alert for DDR (DDR)

By Nick Russo

DDR (NYSE:DDR) was upgraded from Underperform to Neutral at Mizuho today. The stock closed yesterday at $15.02 on volume of 2.9 million shares, above average daily volume of 2.4 million.

DDR Corporation is a real estate investment trust that develops, leases, and manages shopping centers. The Company's properties are located primarily in the East and Midwest United States as well as joint venture properties in Brazil.

DDR (NYSE:DDR) has potential upside of 26.3% based on a current price of $15.02 and analysts' consensus price target of $18.96. The stock should find initial resistance at its 200-day moving average (MA) of $16.57 and further resistance at its 50-day MA of $17.36.

Over the past year, DDR has traded in a range of $14.67 to $19.92 and closed yesterday at $15.02, 2% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.7%.

SmarTrend recommended that its subscribers protect gains by selling shares of DDR on September 12th, 2016 by issuing a Downtrend alert when the shares were trading at $18.25. Since that call, shares of DDR have fallen 18.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades

Ticker(s): DDR