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Upgrade Alert for Plains All American Pipeline (PAA)

By James Quinn

Plains All American Pipeline (NYSE:PAA) was upgraded from Neutral to Buy at UBS today. The stock closed yesterday at $27.49 on volume of 2.0 million shares, below average daily volume of 2.8 million.

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.

There is potential upside of 34.3% for shares of Plains All American Pipeline based on a current price of $27.49 and an average consensus analyst price target of $36.91. The stock should find initial support at its 200-day moving average (MA) of $26.57 and further support at its 50-day MA of $22.45.

In the past 52 weeks, shares of Plains All American Pipeline have traded between a low of $14.82 and a high of $50.63 and closed yesterday at $27.49, which is 85% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 1.4%.

SmarTrend recommended that subscribers consider buying shares of Plains All American Pipeline on April 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.03. Since that recommendation, shares of Plains All American Pipeline have risen 19.0%. We continue to monitor PAA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades plains all american pipeline

Ticker(s): PAA