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Upgrade Alert for Philips Electronic (PHG)

By Nick Russo

Philips Electronic (NYSE:PHG) was upgraded from Neutral to Outperform at Exane BNP Paribas today. The stock closed yesterday at $26.48 on volume of 1.5 million shares, above average daily volume of 1.4 million.

Koninklijke (Royal) Philips Electronics N.V. manufactures medical systems, domestic appliances, consumer electronics, and lighting. The Company produces imaging, ultrasound and healthcare informatics equipment, shaving and beauty and health and wellness products, displays, and peripherals, and lamps and luminaries.

Over the past year, Philips Electronic has traded in a range of $23.16 to $28.75 and closed yesterday at $26.48, 14% above that low. The 200-day and 50-day moving averages have moved 0.03% higher and 0.52% higher over the past week, respectively.

Potential upside of 19.1% exists for Philips Electronic, based on a current level of $26.48 and analysts' average consensus price target of $31.53. The stock should find resistance at its 50-day moving average (MA) of $27.31, as well as support at its 200-day MA of $26.20.

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

Keywords: analyst upgrades/downgrades philips electronic

Ticker(s): PHG