Upgrade Alert for Equity Residential (EQR)
Equity Residential (NYSE:EQR) was upgraded from Neutral to Buy at Janney Montgomery today. The stock closed yesterday at $67.70 on volume of 3.1 million shares, above average daily volume of 1.9 million.
Equity Residential is a real estate investment trust. The trust acquires, develops, and manages apartment complexes in the United States.
Equity Residential share prices have moved between a 52-week high of $82.39 and a 52-week low of $61.90 and closed yesterday at 9% above that low price at $67.70 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has remained constant.
Equity Residential (NYSE:EQR) has potential upside of 25.6% based on a current price of $67.70 and analysts' consensus price target of $85.01. The stock should run into initial resistance at its 50-day moving average (MA) of $72.05 and subsequent resistance at its 200-day MA of $75.31.
SmarTrend recommended that its subscribers protect gains by selling shares of Equity Residential on February 3rd, 2016 by issuing a Downtrend alert when the shares were trading at $74.66. Since that call, shares of Equity Residential have fallen 8.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades equity residential