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Upgrade Alert for Shenandoah Telecommunications (SHEN)

By James Quinn

Shenandoah Telecommunications (NASDAQ:SHEN) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $28.87 on volume of 1.0 million shares, above average daily volume of 138,000.

Shenandoah Telecommunications Company provides telecommunications services through its subsidiaries. The Company offers integrated, full service telecommunications products and services in the Northern Shenandoah Valley and surrounding areas. Shenandoah Telecommunications also holds paging and other radio telecommunications licenses.

Potential upside of 72.3% exists for Shenandoah Telecommunications, based on a current level of $28.87 and analysts' average consensus price target of $49.75. The stock should discover initial support at its 50-day moving average (MA) of $26.33 and subsequent support at its 200-day MA of $22.69.

In the past 52 weeks, shares of Shenandoah Telecommunications have traded between a low of $15.04 and a high of $42.66 and closed yesterday at $28.87, which is 92% above that low price. The 200-day and 50-day moving averages have moved 1.18% higher and 2.49% higher over the past week, respectively.

SmarTrend is monitoring the recent change of momentum in Shenandoah Telecommunications. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Shenandoah Telecommunications in search of a potential trend change.

Keywords: analyst upgrades/downgrades shenandoah telecommunications

Ticker(s): SHEN