Upgrade Alert for Alcatel-Lucent (ALU)
Alcatel-Lucent (NYSE:ALU) was upgraded from Sell to Neutral at Goldman Sachs today. The stock closed yesterday at $1.96 on volume of 22.3 million shares, above average daily volume of 14.1 million.
Alcatel-Lucent (NYSE:ALU) defies analysts with a current price ($1.96) 13.7% above its average consensus price target of $1.69. Alcatel-Lucent shares have support at the 50-day moving average (MA) of $1.67 and additional support at the 200-day MA of $1.41.
Over the past year, Alcatel-Lucent has traded in a range of $0.91 to $2.01 and closed yesterday at $1.96, 115% above that low. The 200-day and 50-day moving averages have moved 0.90% higher and 2.39% higher over the past week, respectively.
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.
SmarTrend recommended that subscribers consider buying shares of Alcatel-Lucent on May 31st, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $1.70. Since that recommendation, shares of Alcatel-Lucent have risen 15.3%. We continue to monitor ALU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Alcatel-Lucent