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Analyst Rating Flashback: Carbonite Up 2.6% Since Upgraded 7 Days Ago (CARB)

By David Diaz

Oppenheimer upgraded Carbonite (NASDAQ:CARB) from Perform to Outperform a week ago. Carbonite stocks closed at $16.12, a 2.6% gain over the course of one week.

Carbonite (NASDAQ:CARB) is currently priced 21.4% above its average consensus analyst price target of $12.67. The stock should discover initial support at its 200-day moving average (MA) of $9.59 and subsequent support at its 50-day MA of $7.86.

SmarTrend recommended that subscribers consider buying shares of Carbonite on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.08. Since that recommendation, shares of Carbonite have risen 96.2%. We continue to monitor CARB for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst reflections carbonite

Ticker(s): CARB