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Upgrade Alert for Harris (HRS)

By Amy Schwartz

Harris (NYSE:HRS) was upgraded from Market Perform to Outperform at Cowen and Company today. The stock closed yesterday at $96.98 on volume of 1.1 million shares, below average daily volume of 1.1 million.

Harris Corporation is an international communications equipment company focused on product, system, and service solutions. The Company provides a range of mission critical communications products, systems and services for global markets, including defense communications and electronics, government communications, broadcast communications and wireless transmission network solutions.

Harris (NYSE:HRS) is currently priced 1.5% above its average consensus analyst price target of $95.57. The stock should discover initial support at its 200-day moving average (MA) of $79.36 and subsequent support at its 50-day MA of $78.33.

In the past 52 weeks, shares of Harris have traded between a low of $70.10 and a high of $94.66 and closed yesterday at $96.98, which is 38% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Harris on June 6th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $80.45. Since that recommendation, shares of Harris have risen 17.2%. We continue to monitor HRS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades harris

Ticker(s): HRS