EUSA Analyst Who Upgraded to Buy Now Says Take Profits

A Seeking Alpha analyst who upgraded the iShares MSCI USA Equal Weighted ETF (EUSA) to Buy two months ago now recommends taking profits, the analyst said in a note. The analyst, who holds no position in the fund, did not specify a price target but said the recent rally justifies booking gains. EUSA has risen since the upgrade, though the analyst did not provide a move percentage.

The analyst initiated coverage with a Hold in February before upgrading at a slightly higher price. The shift to a profit-taking stance suggests the near-term upside is limited, the analyst said. The analyst has no plans to initiate a position in the next 72 hours, according to the disclosure.