• Return to Headlines

Downgrade Alert for Cerner (CERN)

By Shiri Gupta

Cerner (NASDAQ:CERN) was downgraded from Neutral to Underperform at BofA/Merrill today. The stock closed yesterday at $52.65 on volume of 5.2 million shares, above average daily volume of 2.0 million.

Cerner share prices have moved between a 52-week high of $75.00 and a 52-week low of $49.59 and closed yesterday at 6% above that low price at $52.65 per share. 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%.

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.

Cerner (NASDAQ:CERN) has potential upside of 33.4% based on a current price of $52.65 and analysts' consensus price target of $70.22. The stock should run into initial resistance at its 50-day moving average (MA) of $54.52 and subsequent resistance at its 200-day MA of $59.38.

SmarTrend recommended that its subscribers protect gains by selling shares of Cerner on September 9th, 2016 by issuing a Downtrend alert when the shares were trading at $63.06. Since that call, shares of Cerner have fallen 17.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades cerner

Ticker(s): CERN