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Upgrade Alert for Sasol (SSL)

By Shiri Gupta

Sasol (NYSE:SSL) was upgraded from Equal Weight to Overweight at Morgan Stanley today. The stock closed yesterday at $27.54 on volume of 585,000 shares, above average daily volume of 371,000.

Sasol (NYSE:SSL) has potential upside of 43.4% based on a current price of $27.54 and analysts' consensus price target of $39.50. The stock should find initial resistance at its 200-day moving average (MA) of $29.31 and further resistance at its 50-day MA of $30.19.

In the past 52 weeks, shares of Sasol have traded between a low of $21.07 and a high of $40.92 and closed yesterday at $27.54, which is 31% above that low price. The 200-day and 50-day moving averages have moved 0.29% lower and 0.68% higher over the past week, respectively.

Sasol is an integrated oil and gas company with substantial chemical interests, with production facilities located in South Africa, Europe, North America and Asia. The Company operates commercial scale facilities to produce fuels and chemicals from coal in South Africa, and is developing ventures internationally to convert natural gas into clean diesel fuel.

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

Keywords: analyst upgrades/downgrades sasol

Ticker(s): SSL