Upgrade Alert for Philips Electronic (PHG)
Philips Electronic (NYSE:PHG) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $27.94 on volume of 2.1 million shares, above average daily volume of 1.4 million.
Over the past year, Philips Electronic has traded in a range of $23.00 to $28.75 and closed yesterday at $27.94, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has remained constant.
Potential upside of 12.8% exists for Philips Electronic, based on a current level of $27.94 and analysts' average consensus price target of $31.53. The stock should find initial support at its 50-day moving average (MA) of $27.31 and further support at its 200-day MA of $26.20.
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.
SmarTrend recommended that subscribers consider buying shares of Philips Electronic on July 12th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.42. Since that recommendation, shares of Philips Electronic have risen 7.5%. We continue to monitor PHG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades philips electronic