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Upgrade Alert for Empresa Brasileira de Aeronautica (ERJ)

By James Quinn

Empresa Brasileira de Aeronautica (NYSE:ERJ) was upgraded from Market Perform to Outperform at Cowen and Company today. The stock closed yesterday at $19.86 on volume of 1.4 million shares, above average daily volume of 1.1 million.

Empresa Brasileira de Aeronautica S.A. (Embraer) manufactures and markets commercial, corporate, and defense aircraft. The Company also provides maintenance and repair services and markets spare parts for its jets. Embraer markets its aircraft to commercial airlines mainly in the United States and Europe and to governments in Europe and Latin America.

There is potential upside of 72.3% for shares of Empresa Brasileira de Aeronautica based on a current price of $19.86 and an average consensus analyst price target of $34.22. The stock should find initial resistance at its 50-day moving average (MA) of $25.27 and further resistance at its 200-day MA of $27.37.

Empresa Brasileira de Aeronautica share prices have moved between a 52-week high of $32.79 and a 52-week low of $17.06 and closed yesterday at 16% above that low price at $19.86 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 2.2%.

SmarTrend is tracking the current trend status for Empresa Brasileira de Aeronautica and will alert subscribers who have ERJ in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades empresa brasileira de aeronautica

Ticker(s): ERJ