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Upgrade Alert for Royal Bank of Scotland (RBS)

By Shiri Gupta

Royal Bank of Scotland (NYSE:RBS) was upgraded from Neutral to Outperform at Macquarie today. The stock closed yesterday at $4.27 on volume of 9.0 million shares, above average daily volume of 1.0 million.

Potential upside of 225.5% exists for Royal Bank of Scotland, based on a current level of $4.27 and analysts' average consensus price target of $13.90. The stock should find initial resistance at its 50-day moving average (MA) of $6.59 and further resistance at its 200-day MA of $8.57.

Royal Bank of Scotland Group plc, through subsidiaries, accepts deposits and offers commercial banking services. The bank offers business term loans, commercial mortgages, professional practice loans, asset finance and invoice finance loans, residential mortgages, consumer loans, credit cards, financial planning services, and life, personal lines, and income protection insurance.

Royal Bank of Scotland share prices have moved between a 52-week high of $11.63 and a 52-week low of $4.57 and closed yesterday at -7% above that low price at $4.27 per share. The 200-day and 50-day moving averages have moved 1.09% lower and 0.37% lower over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Royal Bank of Scotland. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Royal Bank of Scotland in search of a potential trend change.

Keywords: analyst upgrades/downgrades Royal bank of Scotland

Ticker(s): RBS