Upgrade Alert for Plains All American Pipeline (PAA)
Plains All American Pipeline (NYSE:PAA) was upgraded from Hold to Buy at Deutsche Bank today. The stock closed yesterday at $56.48 on volume of 967,000 shares, above average daily volume of 943,000.
In the past 52 weeks, Plains All American Pipeline share prices have been bracketed by a low of $37.59 and a high of $57.17 and closed yesterday at $56.48, 50% above that low price. The 200-day and 50-day moving averages have moved 0.75% higher and 1.01% higher over the past week, respectively.
Based on a current price of $56.48, Plains All American Pipeline is currently 0.9% above its average consensus analyst price target of $55.97. The stock should discover initial support at its 50-day moving average (MA) of $53.58 and subsequent support at its 200-day MA of $46.46.
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 recommended that subscribers consider buying shares of Plains All American Pipeline on November 19th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.96. Since that recommendation, shares of Plains All American Pipeline have risen 22.9%. 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