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Downgrade Alert for Dolan Media (DM)

By Nick Russo

Dolan Media (NYSE:DM) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $25.98 on volume of 215,000 shares, above average daily volume of 89,000.

Dolan Media is a specialized business information company that publishes business, court, and commercial newspapers and other print and electronic media products. The Company serves the law, credit, finance, construction, and commercial real estate markets. Dolan Media operates throughout the United States.

In the past 52 weeks, Dolan Media share prices have been bracketed by a low of $23.12 and a high of $44.34 and closed yesterday at $25.98, 12% above that low price. The 200-day and 50-day moving averages have moved 0.23% lower and 0.55% higher over the past week, respectively.

Dolan Media has overhead space with shares priced $25.98, or 36.8% below the average consensus analyst price target of $41.10. The stock should find initial resistance at its 200-day moving average (MA) of $30.93 and further resistance at its 50-day MA of $32.42.

SmarTrend recommended that its subscribers protect gains by selling shares of Dolan Media on April 14th, 2016 by issuing a Downtrend alert when the shares were trading at $30.65. Since that call, shares of Dolan Media have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades Dolan Media

Ticker(s): DM