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Upgrade Alert for Procter & Gamble (PG)

By Shiri Gupta

Procter & Gamble (NYSE:PG) was upgraded from Neutral to Buy at B. Riley today. The stock closed yesterday at $87.02 on volume of 6.6 million shares, below average daily volume of 7.4 million.

Procter & Gamble (NYSE:PG) is currently priced 4.7% above its average consensus analyst price target of $82.94. The stock should discover initial support at its 50-day moving average (MA) of $82.13 and subsequent support at its 200-day MA of $77.57.

In the past 52 weeks, Procter & Gamble share prices have been bracketed by a low of $65.02 and a high of $87.45 and closed yesterday at $87.02, 34% 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 remained constant.

The Procter & Gamble Company manufactures and markets consumer products in countries throughout the world. The Company provides products in the laundry and cleaning, paper, beauty care, food and beverage, and health care segments. Proctor & Gamble's products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, and neighborhood stores.

SmarTrend recommended that subscribers consider buying shares of Procter & Gamble on June 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $82.85. Since that recommendation, shares of Procter & Gamble have risen 5.1%. We continue to monitor PG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Procter & Gamble

Ticker(s): PG