• Return to Headlines

Upgrade Alert for Plains All American Pipeline (PAA)

By Shiri Gupta

Plains All American Pipeline (NYSE:PAA) was upgraded from Hold to Buy at Jefferies today. The stock closed yesterday at $51.15 on volume of 1.5 million shares, below average daily volume of 2.0 million.

Plains All American Pipeline has overhead space with shares priced $51.15, or 19.3% below the average consensus analyst price target of $63.41. The stock should run into initial resistance at its 50-day moving average (MA) of $51.90 and subsequent resistance at its 200-day MA of $56.04.

Plains All American Pipeline share prices have moved between a 52-week high of $61.09 and a 52-week low of $43.61 and closed yesterday at 17% above that low price at $51.15 per share. The 200-day and 50-day moving averages have moved 0.12% lower and 0.87% lower over the past week, respectively.

Plains All American Pipeline, L.P. is involved in interstate and intrastate crude oil pipeline transportation and crude oil terminalling storage activities. The Partnership is also involved in gathering and marketing activities. Plains owns and operates a seasonally heated, common carrier crude oil pipe-line extending from CA to TX and an oil gathering system in CA.

SmarTrend is tracking the current trend status for Plains All American Pipeline and will alert subscribers who have PAA in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades plains all american pipeline

Ticker(s): PAA