Upgrade Alert for Torchmark (TMK)
Torchmark (NYSE:TMK) was upgraded from Underperform to Neutral at BofA/Merrill today. The stock closed yesterday at $60.23 on volume of 562,000 shares, above average daily volume of 522,000.
Over the past year, Torchmark has traded in a range of $48.47 to $63.26 and closed yesterday at $60.23, 24% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.9%.
Torchmark (NYSE:TMK) is currently priced 4.4% above its average consensus analyst price target of $57.58. The stock should find initial support at its 200-day moving average (MA) of $56.83 and further support at its 50-day MA of $54.94.
Torchmark Corporation is an insurance and financial services holding company. The Company's subsidiaries offer life and health insurance, and annuities. Life products include traditional and interest sensitive whole life insurance as well as term life insurance. Health products include Medicare supplement, cancer, accident, long-term care, and limited hospital and surgical coverages.
SmarTrend is monitoring the recent change of momentum in Torchmark. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Torchmark in search of a potential trend change.
Keywords: analyst upgrades/downgrades torchmark