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Downgrade Alert for Prudential Financial (PRU)

By Amy Schwartz

Prudential Financial (NYSE:PRU) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $84.37 on volume of 1.7 million shares, below average daily volume of 2.5 million.

Over the past year, Prudential Financial has traded in a range of $57.19 to $92.60 and closed yesterday at $84.37, 48% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.3%.

Prudential Financial, Inc. provides financial services throughout the United States and several locations worldwide. The Company offers a variety of products and services, including life insurance, mutual funds, annuities, pension and retirement related services and administration, asset management, securities brokerage, real estate brokerage, and relocation services.

Prudential Financial has overhead space with shares priced $84.37, or 13.7% below the average consensus analyst price target of $97.79. The stock should find initial support at its 200-day moving average (MA) of $77.89 and further support at its 50-day MA of $73.65.

SmarTrend recommended that subscribers consider buying shares of Prudential Financial on July 26th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $75.72. Since that recommendation, shares of Prudential Financial have risen 11.6%. We continue to monitor PRU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Prudential Financial

Ticker(s): PRU