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Upgrade Alert for Sanofi-Aventis (SNY)

By David Diaz

Sanofi-Aventis (NYSE:SNY) was upgraded from Hold to Buy at Berenberg today. The stock closed yesterday at $40.09 on volume of 2.5 million shares, above average daily volume of 2.4 million.

There is potential upside of 37.2% for shares of Sanofi-Aventis based on a current price of $40.09 and an average consensus analyst price target of $55.02. Sanofi-Aventis shares should first meet resistance at the 50-day moving average (MA) of $41.37 and find additional resistance at the 200-day MA of $45.02.

Over the past year, Sanofi-Aventis has traded in a range of $37.41 to $54.98 and closed yesterday at $40.09, 7% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 0.3%.

Sanofi-Aventis is a global pharmaceutical company that researches, develops and manufactures prescription pharmaceuticals and vaccines. The Company develops cardiovascular, thrombosis, metabolic disorder, central nervous system, internal medicine and oncology drugs, and vaccines.

SmarTrend is tracking the current trend status for Sanofi-Aventis and will alert subscribers who have SNY in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Sanofi-Aventis

Ticker(s): SNY