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Downgrade Alert for BB&T (BBT)

By David Diaz

BB&T (NYSE:BBT) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $33.73 on volume of 3.1 million shares, below average daily volume of 5.5 million.

Potential upside of 24.4% exists for BB&T, based on a current level of $33.73 and analysts' average consensus price target of $41.96. The stock should find initial resistance at its 50-day moving average (MA) of $34.09 and further resistance at its 200-day MA of $35.95.

BB&T Corporation operates banking offices in the Carolinas, Georgia, Virginia, Maryland, West Virginia, Kentucky, Alabama, Indiana, Washington D.C., Florida and Tennessee. The Company and its subsidiaries offer full-service commercial and retail banking, as well as insurance, retail brokerage, corporate finance, international banking, leasing, and trust services.

In the past 52 weeks, BB&T share prices have been bracketed by a low of $29.95 and a high of $41.90 and closed yesterday at $33.73, 13% above that low price. The 200-day and 50-day moving averages have moved 0.37% lower and 0.52% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in BB&T. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of BB&T in search of a potential trend change.

Keywords: analyst upgrades/downgrades BB&T

Ticker(s): BBT