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Upgrade Alert for LG Display (LPL)

By Shiri Gupta

LG Display (NYSE:LPL) was upgraded from Neutral to Buy at BofA/Merrill today. The stock closed yesterday at $13.09 on volume of 575,000 shares, above average daily volume of 528,000.

Over the past year, LG Display has traded in a range of $8.20 to $14.13 and closed yesterday at $13.09, 60% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

LG Display (NYSE:LPL) is currently priced 17.1% above its average consensus analyst price target of $10.85. LG Display shares have support at the 50-day moving average (MA) of $10.80 and additional support at the 200-day MA of $10.00.

LG Display Company Ltd. develops and manufactures digital display products. The Company's products include thin film transistor-liquid crystal displays (TFT-LCD) for notebook and desktop computer monitors, TVs, and mobile phones. LG Display provides its products to overseas and domestic markets.

SmarTrend recommended that subscribers consider buying shares of LG Display on June 30th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.50. Since that recommendation, shares of LG Display have risen 10.6%. We continue to monitor LPL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades lg display

Ticker(s): LPL