Winn-Dixie Stores (WINN) saw a nearly 13% rise on Wednesday after a Friedman, Billings, Ramsey analyst upgraded the stock to an Outperform rating and increased her price target to $20. The stock gapped open higher and continued to rise on heavy volume for the first 30 minutes of the day. The stock maintained most of its gain through the remainder of the day to close at $17.49 up $1.99.
With the gain, the stock reversed a recent downtrend, crossing its 50-day moving average and testing its 200-day moving average. The stock closed at a three week high.
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