Downgrade Alert for BAE Systems (BAESY)
BAE Systems (NASDAQ:BAESY) was downgraded from Buy to Hold at Berenberg today. The stock closed yesterday at $30.00 on volume of 69,000 shares, below average daily volume of 85,000.
BAE Systems has overhead space with shares priced $30.00, or 15.9% below the average consensus analyst price target of $35.69. The stock should discover initial support at its 200-day moving average (MA) of $28.47 and subsequent support at its 50-day MA of $28.44.
BAE Systems plc develops, delivers, and supports advanced defense and aerospace systems. The Group manufactures military aircraft, surface ships, submarines, radar, avionics, communications, electronics, and guided weapon systems. BAE Systems services clients located throughout the world.
In the past 52 weeks, BAE Systems share prices have been bracketed by a low of $26.05 and a high of $32.25 and closed yesterday at $30.00, 15% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.2%.
SmarTrend is monitoring the recent change of momentum in BAE Systems. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of BAE Systems in search of a potential trend change.
Keywords: analyst upgrades/downgrades BAE Systems