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Downgrade Alert for Fred's (FRED)

By Shiri Gupta

Fred's (NASDAQ:FRED) was downgraded from Hold to Sell at Deutsche Bank today. The stock closed yesterday at $14.03 on volume of 318,000 shares, above average daily volume of 152,000.

There is potential upside of 8.7% for shares of Fred's based on a current price of $14.03 and an average consensus analyst price target of $15.25. Fred's shares should first meet resistance at the 200-day moving average (MA) of $14.63 and find additional resistance at the 50-day MA of $14.91.

Fred's, Inc. operates discount general merchandise stores in the southeastern United States. The Company also markets goods and services through Fred's Super Dollar Stores and Pharmacies and Fred's Xpress Pharmacies.

Over the past year, Fred's has traded in a range of $11.27 to $20.05 and closed yesterday at $14.03, 24% above that low. The 200-day and 50-day moving averages have moved 0.5% lower and 0.36% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Fred's. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Fred's in search of a potential trend change.

Keywords: analyst upgrades/downgrades fred's

Ticker(s): FRED