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Downgrade Alert for Shenandoah Telecommunications (SHEN)

By Amy Schwartz

Shenandoah Telecommunications (NASDAQ:SHEN) was downgraded from Outperform to Market Perform at FBR Capital today. The stock closed yesterday at $31.50 on volume of 893,000 shares, above average daily volume of 138,000.

In the past 52 weeks, Shenandoah Telecommunications share prices have been bracketed by a low of $15.04 and a high of $42.66 and closed yesterday at $31.50, 109% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.2% while the 50-day MA has advanced 2.5%.

There is potential upside of 57.9% for shares of Shenandoah Telecommunications based on a current price of $31.50 and an average consensus analyst price target of $49.75. Shenandoah Telecommunications shares have support at the 50-day moving average (MA) of $26.33 and additional support at the 200-day MA of $22.69.

Shenandoah Telecommunications Company provides telecommunications services through its subsidiaries. The Company offers integrated, full service telecommunications products and services in the Northern Shenandoah Valley and surrounding areas. Shenandoah Telecommunications also holds paging and other radio telecommunications licenses.

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

Keywords: analyst upgrades/downgrades shenandoah telecommunications

Ticker(s): SHEN