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Downgrade Alert for Comcast (CMCSA)
Feb 22, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Comcast (NASDAQ:CMCSA) was downgraded from Outperform to Neutral at Macquarie today. The stock closed yesterday at $40.08 on volume of 12.8 million shares, below average daily volume of 15.1 million. In the past 52 weeks, Comcast share prices have been bracketed by a low of $28.09 and a high of $42.00 and closed yesterday at $40.08, 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.6%.
There is potential upside of 15.4% for shares of Comcast based on a current price of $40.08 and an average consensus analyst price target of $46.26. The stock should find initial support at its 50-day moving average (MA) of $38.65 and further support at its 200-day MA of $34.79.
Comcast Corporation provides a wide range of cable services. The Company offers a variety of entertainment, information and communications services to residential and commercial customers. Comcasts services include programming, Hi-speed Internet, and broadband phone service.
SmarTrend recommended that subscribers consider buying shares of Comcast on November 30th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $37.02. Since that recommendation, shares of Comcast have risen 8.3%. We continue to monitor CMCSA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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