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Upgrade Alert for GlaxoSmithKline (GSK)

By Shiri Gupta

GlaxoSmithKline (NYSE:GSK) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $43.87 on volume of 4.0 million shares, above average daily volume of 3.3 million.

GlaxoSmithKline plc is a research-based pharmaceutical group that develops, manufactures and markets vaccines, prescription and over-the-counter medicines, as well as health-related consumer products. The Group, which also provides laboratory testing and disease management services, specializes in treatments for respiratory, central nervous system, gastro-intestinal and genetic disorders

In the past 52 weeks, shares of GlaxoSmithKline have traded between a low of $37.24 and a high of $46.76 and closed yesterday at $43.87, which is 18% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

There is potential upside of 7.7% for shares of GlaxoSmithKline based on a current price of $43.87 and an average consensus analyst price target of $47.25. The stock should discover initial support at its 50-day moving average (MA) of $41.11 and subsequent support at its 200-day MA of $40.86.

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

Keywords: analyst upgrades/downgrades GlaxoSmithKline

Ticker(s): GSK