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Downgrade Alert for Capital Product Partners (CPLP)

By Nick Russo

Capital Product Partners (NASDAQ:CPLP) was downgraded from Buy to Hold at Evercore ISI today. The stock closed yesterday at $2.74 on volume of 10.9 million shares, above average daily volume of 1.3 million.

Capital Product Partners LP is an international owner of product tankers. The Company charters its vessels under medium to long-term time and bareboat charters to large charterers.

There is potential upside of 280.6% for shares of Capital Product Partners based on a current price of $2.74 and an average consensus analyst price target of $10.43. The stock should find initial resistance at its 50-day moving average (MA) of $3.27 and further resistance at its 200-day MA of $5.52.

Capital Product Partners share prices have moved between a 52-week high of $9.65 and a 52-week low of $2.50 and closed yesterday at 10% above that low price at $2.74 per share. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has advanced 1.0%.

SmarTrend recommended that subscribers consider buying shares of Capital Product Partners on April 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.43. Since that recommendation, shares of Capital Product Partners have risen 11.7%. We continue to monitor CPLP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades capital product partners

Ticker(s): CPLP