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Upgrade Alert for Mack-Cali Realty (CLI)

By Amy Schwartz

Mack-Cali Realty (NYSE:CLI) was upgraded from Hold to Buy at Evercore ISI today. The stock closed yesterday at $26.93 on volume of 779,000 shares, above average daily volume of 603,000.

Mack-Cali Realty (NYSE:CLI) is currently priced 17.4% above its average consensus analyst price target of $22.25. Mack-Cali Realty shares have support at the 50-day moving average (MA) of $23.18 and additional support at the 200-day MA of $21.51.

Over the past year, Mack-Cali Realty has traded in a range of $16.85 to $29.25 and closed yesterday at $26.93, 60% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 2.6%.

Mack-Cali Realty Corporation is a fully integrated, self administered, self managed real estate investment trust (REIT) providing management, leasing, development, construction, and other tenant related services for its class A real estate portfolio. The properties are primarily office and office/flex buildings located in the Northeast.

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

Keywords: analyst upgrades/downgrades mack-cali realty

Ticker(s): CLI