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Upgrade Alert for Cubic (CUB)

By Shiri Gupta

Cubic (NYSE:CUB) was upgraded from Hold to Buy at Needham today. The stock closed yesterday at $42.73 on volume of 292,000 shares, above average daily volume of 157,000.

Cubic Corporation, through its defense group, provides instrumented air and ground combat training systems, battle command training, and simulation support for military forces. The Company also produces avionics, data links, and communications products. Cubic's transportation group provides intermodal ticketing systems for public transit projects worldwide.

Potential upside of 30.5% exists for Cubic, based on a current level of $42.73 and analysts' average consensus price target of $55.75. The stock should find initial support at its 200-day moving average (MA) of $41.97 and further support at its 50-day MA of $39.41.

Cubic share prices have moved between a 52-week high of $50.50 and a 52-week low of $30.11 and closed yesterday at 42% above that low price at $42.73 per share. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.1%.

SmarTrend is tracking the current trend status for Cubic and will alert subscribers who have CUB in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades cubic

Ticker(s): CUB