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Upgrade Alert for Weyerhaeuser (WY)

By Nick Russo

Weyerhaeuser (NYSE:WY) was upgraded from Neutral to Buy at DA Davidson today. The stock closed yesterday at $29.23 on volume of 7.2 million shares, above average daily volume of 4.7 million.

Over the past year, Weyerhaeuser has traded in a range of $22.06 to $33.11 and closed yesterday at $29.23, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.1% while the 200-day MA has remained constant.

There is potential upside of 23.7% for shares of Weyerhaeuser based on a current price of $29.23 and an average consensus analyst price target of $36.15. The stock should find resistance at its 50-day moving average (MA) of $30.19, as well as support at its 200-day MA of $29.01.

Weyerhaeuser Company is an integrated forest products company with offices or operations worldwide. The Company primarily grows and harvests trees, develops and construct real estate and makes a range of forest products.

SmarTrend recommended that its subscribers protect gains by selling shares of Weyerhaeuser on May 17th, 2016 by issuing a Downtrend alert when the shares were trading at $30.81. Since that call, shares of Weyerhaeuser have fallen 9.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades WeyerHaeuser

Ticker(s): WY