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Upgrade Alert for Diageo (DEO)

By David Diaz

Diageo (NYSE:DEO) was upgraded from Sell to Neutral at Goldman Sachs today. The stock closed yesterday at $105.90 on volume of 1.5 million shares, above average daily volume of 519,000.

There is potential upside of 22.9% for shares of Diageo based on a current price of $105.90 and an average consensus analyst price target of $130.10. Diageo shares should first meet resistance at the 50-day moving average (MA) of $107.73 and find additional resistance at the 200-day MA of $109.22.

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.

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 $105.90, which is 6% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 0.3%.

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