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Upgrade Alert for Greif (GEF)

By David Diaz

Greif (NYSE:GEF) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $47.22 on volume of 336,000 shares, above average daily volume of 298,000.

Greif (NYSE:GEF) is currently priced 19.0% above its average consensus analyst price target of $38.25. Greif shares have support at the 50-day moving average (MA) of $31.65 and additional support at the 200-day MA of $31.25.

Greif Inc. manufactures and markets industrial packaging products and services. The Company provides steel, plastic, fiber, corrugated, and multiwall containers and protective packaging for a wide range of multinational and regional industries. Greif also produces containerboard and manages timber properties in North America.

In the past 52 weeks, shares of Greif have traded between a low of $23.88 and a high of $46.18 and closed yesterday at $47.22, which is 98% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 2.6%.

SmarTrend recommended that subscribers consider buying shares of Greif on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.13. Since that recommendation, shares of Greif have risen 69.9%. We continue to monitor GEF for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades greif

Ticker(s): GEF