Downgrade Alert for Pearson (PSO)
Pearson (NYSE:PSO) was downgraded from Neutral to Underperform at BofA/Merrill today. The stock closed yesterday at $9.06 on volume of 1.4 million shares, above average daily volume of 310,000.
In the past 52 weeks, Pearson share prices have been bracketed by a low of $9.06 and a high of $21.15 and closed yesterday at $9.06, 0% above that low price. The 200-day and 50-day moving averages have moved 1.16% lower and 0.24% higher over the past week, respectively.
Pearson (NYSE:PSO) has potential upside of 79.1% based on a current price of $9.06 and analysts' consensus price target of $16.23. Pearson shares should first meet resistance at the 50-day moving average (MA) of $12.13 and find additional resistance at the 200-day MA of $13.72.
Pearson plc is a holding company, whose international subsidiaries operate in the education and media sectors. The Company publishes various financial papers, trade books, textbooks and electronic education programs, via their businesses which include the Financial Times, Penguin, The Economist and Recoletos.
SmarTrend recommended that its subscribers protect gains by selling shares of Pearson on August 29th, 2016 by issuing a Downtrend alert when the shares were trading at $11.25. Since that call, shares of Pearson 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 pearson