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Upgrade Alert for Mindray Medical International (MR)

By Shiri Gupta

Mindray Medical International (NYSE:MR) was upgraded from Underperform to Neutral at Credit Suisse today. The stock closed yesterday at $32.40 on volume of 671,000 shares, below average daily volume of 850,000.

Over the past year, Mindray Medical International has traded in a range of $30.03 to $43.81 and closed yesterday at $32.40, 8% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.

Potential upside of 10.7% exists for Mindray Medical International, based on a current level of $32.40 and analysts' average consensus price target of $35.88. The stock should find initial resistance at its 50-day moving average (MA) of $33.39 and further resistance at its 200-day MA of $37.66.

Mindray Medical International Limited develops, manufactures, and markets medical devices. The Company offers patient monitoring devices, diagnostic laboratory instruments, and ultrasound imaging systems.

SmarTrend recommended that its subscribers protect gains by selling shares of Mindray Medical International on January 23rd, 2014 by issuing a Downtrend alert when the shares were trading at $35.77. Since that call, shares of Mindray Medical International have fallen 9.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: analyst upgrades/downgrades mindray medical international

Ticker(s): MR