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Upgrade Alert for Spectra Energy (SE)

By Shiri Gupta

Spectra Energy (NYSE:SE) was upgraded from Sector Performer to Outperformer at CIBC today. The stock closed yesterday at $41.92 on volume of 24.2 million shares, above average daily volume of 4.7 million.

Over the past year, Spectra Energy has traded in a range of $21.43 to $42.33 and closed yesterday at $41.92, 96% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has remained constant.

Spectra Energy Corporation transmits, stores, distributes, gathers, and processes natural gas. The Company provides transportation and storage of natural gas to customers in various regions of the northeastern and southeastern United States, the Maritime Provinces in Canada and the Pacific Northwest in the United States and Canada, and the province of Ontario, Canada.

Spectra Energy (NYSE:SE) is currently priced 18.3% above its average consensus analyst price target of $34.23. The stock should discover initial support at its 50-day moving average (MA) of $30.33 and subsequent support at its 200-day MA of $28.06.

SmarTrend recommended that subscribers consider buying shares of Spectra Energy on January 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.99. Since that recommendation, shares of Spectra Energy have risen 64.1%. We continue to monitor SE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Spectra Energy

Ticker(s): SE