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Downgrade Alert for GlaxoSmithKline (GSK)

By Shiri Gupta

GlaxoSmithKline (NYSE:GSK) was downgraded from Neutral to Underperform at Exane BNP Paribas today. The stock closed yesterday at $42.51 on volume of 3.6 million shares, above average daily volume of 3.3 million.

Potential upside of 11.2% exists for GlaxoSmithKline, based on a current level of $42.51 and analysts' average consensus price target of $47.25. The stock should find initial support at its 50-day moving average (MA) of $41.11 and further support at its 200-day MA of $40.86.

GlaxoSmithKline plc is a research-based pharmaceutical group that develops, manufactures and markets vaccines, prescription and over-the-counter medicines, as well as health-related consumer products. The Group, which also provides laboratory testing and disease management services, specializes in treatments for respiratory, central nervous system, gastro-intestinal and genetic disorders

GlaxoSmithKline share prices have moved between a 52-week high of $46.76 and a 52-week low of $37.24 and closed yesterday at 14% above that low price at $42.51 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.7%.

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

Keywords: analyst upgrades/downgrades GlaxoSmithKline

Ticker(s): GSK