Upgrade Alert for Alcatel-Lucent (ALU)
Alcatel-Lucent (NYSE:ALU) was upgraded from Hold to Buy at Craig-Hallum today. The stock closed yesterday at $2.57 on volume of 23.5 million shares, above average daily volume of 6.2 million.
Alcatel-Lucent manufactures telecommunications equipment, and offers telecommunications services. The Company's telecommunications equipment and services enable its customers to send or receive virtually any type of voice or data transmission. Alcatel-Lucent designs and builds public and private networks, communications systems and software, and data networking systems.
In the past 52 weeks, Alcatel-Lucent share prices have been bracketed by a low of $2.53 and a high of $4.68 and closed yesterday at $2.57, 2% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.6%.
There is potential upside of 77.3% for shares of Alcatel-Lucent based on a current price of $2.57 and an average consensus analyst price target of $4.56. The stock should find initial resistance at its 50-day moving average (MA) of $3.26 and further resistance at its 200-day MA of $3.79.
SmarTrend recommended that its subscribers protect gains by selling shares of Alcatel-Lucent on January 24th, 2014 by issuing a Downtrend alert when the shares were trading at $3.88. Since that call, shares of Alcatel-Lucent have fallen 33.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: analyst upgrades/downgrades Alcatel-Lucent