Upgrade Alert for Western Refining (WNR)
Western Refining (NYSE:WNR) was upgraded from Sell to Hold at Tudor Pickering today. The stock closed yesterday at $19.79 on volume of 6.2 million shares, above average daily volume of 2.6 million.
Western Refining, Inc., through a subsidiary, refines crude oil and markets petroleum products. The subsidiary primarily produces gasoline, diesel, and jet fuel. The products are marketed in Arizona, New Mexico and Texas in the United States, and Juarez, Mexico.
Western Refining (NYSE:WNR) has potential upside of 166.7% based on a current price of $19.79 and analysts' consensus price target of $52.78. The stock should find initial resistance at its 50-day moving average (MA) of $27.74 and further resistance at its 200-day MA of $37.39.
In the past 52 weeks, Western Refining share prices have been bracketed by a low of $18.14 and a high of $50.71 and closed yesterday at $19.79, 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 0.6%.
SmarTrend recommended that its subscribers protect gains by selling shares of Western Refining on April 15th, 2016 by issuing a Downtrend alert when the shares were trading at $26.97. Since that call, shares of Western Refining have fallen 32.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades western refining