Upgrade Alert for Plains All American Pipeline (PAA)
Plains All American Pipeline (NYSE:PAA) was upgraded from Neutral to Outperform at RW Baird today. The stock closed yesterday at $50.97 on volume of 1.5 million shares, above average daily volume of 1.2 million.
Over the past year, Plains All American Pipeline has traded in a range of $44.15 to $59.52 and closed yesterday at $50.97, 15% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
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.
Plains All American Pipeline has overhead space with shares priced $50.97, or 16.5% below the average consensus analyst price target of $61.07. The stock should run into initial resistance at its 50-day moving average (MA) of $51.66 and subsequent resistance at its 200-day MA of $54.26.
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