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Downgrade Alert for Credit Suisse Group (CS)

By Shiri Gupta

Credit Suisse Group (NYSE:CS) was downgraded from Overweight to Equal Weight at Barclays Capital today. The stock closed yesterday at $13.00 on volume of 4.3 million shares, above average daily volume of 3.0 million.

Credit Suisse Group (NYSE:CS) has potential upside of 83.2% based on a current price of $13.00 and analysts' consensus price target of $23.82. The stock should run into initial resistance at its 50-day moving average (MA) of $14.71 and subsequent resistance at its 200-day MA of $20.95.

Credit Suisse Group AG is an international financial services group. The Group provides investment banking, private banking, and asset management services to customers located around the world.

In the past 52 weeks, shares of Credit Suisse Group have traded between a low of $12.56 and a high of $29.99 and closed yesterday at $13.00, which is 4% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has slid 1.3%.

SmarTrend is tracking the current trend status for Credit Suisse Group and will alert subscribers who have CS in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades credit suisse group

Ticker(s): CS