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Upgrade Alert for Southwest Gas (SWX)

By Nick Russo

Southwest Gas (NYSE:SWX) was upgraded from Underperform to Hold at Jefferies today. The stock closed yesterday at $66.99 on volume of 582,000 shares, above average daily volume of 206,000.

Southwest Gas Corporation purchases, transports, and distributes natural gas to residential, commercial, and industrial customers in portions of Arizona, Nevada, and California. The Company also provides construction services to utility companies, including trenching and installation, replacement, and maintenance services for energy distribution systems.

Southwest Gas (NYSE:SWX) is currently priced 7.1% above its average consensus analyst price target of $62.25. The stock should find initial support at its 50-day moving average (MA) of $64.25 and further support at its 200-day MA of $58.56.

In the past 52 weeks, shares of Southwest Gas have traded between a low of $50.53 and a high of $79.58 and closed yesterday at $67.01, which is 33% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.9%.

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

Keywords: analyst upgrades/downgrades southwest gas

Ticker(s): SWX