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Upgrade Alert for Philippine Long Distance Telephone (PHI)

By James Quinn

Philippine Long Distance Telephone (NYSE:PHI) was upgraded from Underperform to Neutral at Credit Suisse today. The stock closed yesterday at $41.39 on volume of 337,000 shares, above average daily volume of 126,000.

In the past 52 weeks, Philippine Long Distance Telephone share prices have been bracketed by a low of $34.26 and a high of $68.00 and closed yesterday at $41.39, 21% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 2.1%.

Philippine Long Distance Telephone Company provides domestic and international long distance and cellular telephone services. The Company's business group include fixed line, wireless, and information and communications technology.

Potential upside of 15.5% exists for Philippine Long Distance Telephone, based on a current level of $41.39 and analysts' average consensus price target of $47.80. Philippine Long Distance Telephone shares should encounter resistance at the 200-day moving average (MA) of $46.06 and support at the 50-day MA of $39.75.

SmarTrend is tracking the current trend status for Philippine Long Distance Telephone and will alert subscribers who have PHI in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades philippine long distance telephone

Ticker(s): PHI