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Downgrade Alert for BT Group (BT)

By Amy Schwartz

BT Group (NYSE:BT) was downgraded from Outperform to Neutral at Credit Suisse today. The stock closed yesterday at $25.21 on volume of 1.6 million shares, above average daily volume of 239,000.

In the past 52 weeks, shares of BT Group have traded between a low of $26.46 and a high of $75.37 and closed yesterday at $25.21, which is -5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has remained constant.

BT Group plc provides telecommunications services. The Company provides local and long-distance telephone call products and services in the UK, international telephone calls to and from the UK, broadband network solutions and web hosting to corporate customers, network ADSL, ISDN, and IP services to communication companies and narrowband and broadband internet access and related services.

Potential upside of 264.6% exists for BT Group, based on a current level of $25.21 and analysts' average consensus price target of $91.91. The stock should find initial resistance at its 50-day moving average (MA) of $32.49 and further resistance at its 200-day MA of $50.77.

SmarTrend recommended that its subscribers protect gains by selling shares of BT Group on December 8th, 2015 by issuing a Downtrend alert when the shares were trading at $35.41. Since that call, shares of BT Group have fallen 24.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades bt group

Ticker(s): BT