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Downgrade Alert for Cerner (CERN)

By James Quinn

Cerner (NASDAQ:CERN) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $58.26 on volume of 2.2 million shares, above average daily volume of 2.0 million.

In the past 52 weeks, shares of Cerner have traded between a low of $49.59 and a high of $75.00 and closed yesterday at $58.26, which is 17% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has slid 0.5%.

There is potential upside of 20.5% for shares of Cerner based on a current price of $58.26 and an average consensus analyst price target of $70.22. The stock should find resistance at its 200-day moving average (MA) of $59.38, as well as support at its 50-day MA of $54.52.

Cerner Corporation designs, develops, markets, installs, and supports information technology and content solutions for healthcare organizations and consumers. The Company's systems, implemented on a member or patient, accumulate data on care provided and provide access for users of clinical information.

SmarTrend recommended that subscribers consider buying shares of Cerner on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $57.08. Since that recommendation, shares of Cerner have risen 3.2%. We continue to monitor CERN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades cerner

Ticker(s): CERN