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Upgrade Alert for Suburban Propane (SPH)

By Shiri Gupta

Suburban Propane (NYSE:SPH) was upgraded from Hold to Buy at Stifel today. The stock closed yesterday at $32.23 on volume of 393,000 shares, above average daily volume of 264,000.

Suburban Propane (NYSE:SPH) has potential upside of 15.8% based on a current price of $32.23 and analysts' consensus price target of $37.33. The stock should discover initial support at its 200-day moving average (MA) of $30.55 and subsequent support at its 50-day MA of $29.64.

Suburban Propane Partners, L.P. is a retail propane gas marketer that serves residential, commercial, industrial, and agricultural customers through service centers.

Suburban Propane share prices have moved between a 52-week high of $43.99 and a 52-week low of $20.93 and closed yesterday at 54% above that low price at $32.23 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has advanced 1.2%.

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

Keywords: analyst upgrades/downgrades suburban propane

Ticker(s): SPH