Downgrade Alert for Syngenta (SYT)
Syngenta (NYSE:SYT) was downgraded from Outperform to Market Perform at Bernstein today. The stock closed yesterday at $88.50 on volume of 782,000 shares, above average daily volume of 617,000.
Syngenta AG produces crop protection products and seeds. The Company produces herbicides, insecticides and fungicides, and seeds for field crops, vegetables, and flowers.
Over the past year, Syngenta has traded in a range of $61.61 to $98.15 and closed yesterday at $88.50, 44% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.
Syngenta (NYSE:SYT) is currently priced 16.5% above its average consensus analyst price target of $73.92. Syngenta shares have support at the 50-day moving average (MA) of $82.31 and additional support at the 200-day MA of $75.81.
SmarTrend recommended that subscribers consider buying shares of Syngenta on July 22nd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.68. Since that recommendation, shares of Syngenta have risen 10.7%. We continue to monitor SYT for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades syngenta