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Upgrade Alert for Stantec (STN)

By David Diaz

Stantec (NYSE:STN) was upgraded from Sector Perform to Outperform at National Bank today. The stock closed yesterday at $24.07 on volume of 72,000 shares, above average daily volume of 17,000.

There is potential upside of 16.7% for shares of Stantec based on a current price of $24.07 and an average consensus analyst price target of $28.10. The stock should find initial resistance at its 50-day moving average (MA) of $24.26 and further resistance at its 200-day MA of $24.31.

Stantec share prices have moved between a 52-week high of $30.01 and a 52-week low of $20.71 and closed yesterday at 16% above that low price at $24.07 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.8%.

Stantec Inc. is an engineering, architecture, and related professional services enterprise. The Company provides a broad range of consulting, project delivery, design build, and technology capabilities to private and public sector clients, across North America and internationally.

SmarTrend recommended that its subscribers protect gains by selling shares of Stantec on May 5th, 2016 by issuing a Downtrend alert when the shares were trading at $24.58. Since that call, shares of Stantec have fallen 4.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades stantec

Ticker(s): STN