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Upgrade Alert for Western Refining (WNR)

By James Quinn

Western Refining (NYSE:WNR) was upgraded from Underweight to Neutral at JP Morgan today. The stock closed yesterday at $27.43 on volume of 4.3 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.

Potential upside of 92.4% exists for Western Refining, based on a current level of $27.43 and analysts' average consensus price target of $52.78. The stock should run into initial resistance at its 50-day moving average (MA) of $27.74 and subsequent resistance at its 200-day MA of $37.39.

Western Refining share prices have moved between a 52-week high of $50.71 and a 52-week low of $18.14 and closed yesterday at 51% above that low price at $27.43 per share. 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 subscribers consider buying shares of Western Refining on August 2nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $22.22. Since that recommendation, shares of Western Refining have risen 18.0%. We continue to monitor WNR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades western refining

Ticker(s): WNR