It often follows that a stock setting a new 52-week high will continue to set higher and higher highs (and the opposite for a stock setting a new 52-week low), and momentum traders often look to the 52-week-high lists for new stock ideas. Keep in mind, though, that new high prices can also indicate reasons for concern or caution in a stock.
Let's take a closer look at several stocks that hit new 52-week highs today.Altria (MO), through its subsidiaries, manufactures and sells cigarettes, other tobacco products, machine-made large cigars and pipe tobacco. It also maintains a portfolio of leveraged and direct finance leases. The stock was recently trading up 5 cents at $27.85 after hitting a 52-week high of $28.14 earlier in the day. Today's Range: $27.79-$28.14 52-Week Range: $23.20-$28.14 Volume: 8.8 million Ratings: Of nine analysts covering Altria, four rate it a buy, and five rate it a hold. TheStreet Ratings has a B buy rating on Altria, making it one of the top-rated tobacco stocks. Activision Blizzard (ATVI) is an online, personal computer, console and handheld game publisher. It was recently trading off 12 cents, or 0.9%, at $12.82 after hitting a 52-week high of $13.11 earlier in the day. Today's Range: $12.71-$13.11 52-Week Range: $10.40-$13.11 Volume: 8.6 million Ratings: Of 19 analysts covering the stock, 16 rate it a buy, and three rate it a hold. TheStreet Ratings' has a B buy rating on Activision. Activision is one of the top holdings at Whitney Tilson's T2 Partners.
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