Upgrade Alert for Potlatch (PCH)
Potlatch (NYSE:PCH) was upgraded from Neutral to Buy at DA Davidson today. The stock closed yesterday at $38.52 on volume of 317,000 shares, above average daily volume of 281,000.
In the past 52 weeks, Potlatch share prices have been bracketed by a low of $37.04 and a high of $44.20 and closed yesterday at $38.52, 4% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.8%.
There is potential upside of 18.4% for shares of Potlatch based on a current price of $38.52 and an average consensus analyst price target of $45.60. Potlatch shares should first meet resistance at the 50-day moving average (MA) of $40.71 and find additional resistance at the 200-day MA of $41.44.
Potlatch Corporation is a real estate investment trust that owns timberlands in Arkansas, Idaho, Minnesota and Wisconsin. The Company grows and harvests timber, as well as manufactures and sells wood products, printing papers, and other pulp-based products. Potlatch's timberlands and all of its manufacturing facilities are located in the continental United States.
SmarTrend recommended that its subscribers protect gains by selling shares of Potlatch on January 30th, 2015 by issuing a Downtrend alert when the shares were trading at $39.94. Since that call, shares of Potlatch have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades potlatch