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Upgrade Alert for Diageo (DEO)

By David Diaz

Diageo (NYSE:DEO) was upgraded from Sell to Hold at Societe Generale today. The stock closed yesterday at $103.62 on volume of 2.4 million shares, above average daily volume of 519,000.

In the past 52 weeks, shares of Diageo have traded between a low of $99.59 and a high of $122.23 and closed yesterday at $103.62, which is 4% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

Diageo plc produces, distills and markets alcoholic beverages. The Company's premium drinks brands include Smirnoff, J&B, Johnnie Walker, Jose Cuervo, Seagrams, Captain Morgan, Tanqueray, Baileys, Harp, and Guinness Stout.

Potential upside of 25.6% exists for Diageo, based on a current level of $103.62 and analysts' average consensus price target of $130.10. The stock should find initial resistance at its 50-day moving average (MA) of $107.73 and further resistance at its 200-day MA of $109.22.

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

Keywords: analyst upgrades/downgrades diageo

Ticker(s): DEO