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Upgrade Alert for Validus Holdings (VR)

By James Quinn

Validus Holdings (NYSE:VR) was upgraded from Underperform to Neutral at BofA/Merrill today. The stock closed yesterday at $47.09 on volume of 937,000 shares, above average daily volume of 390,000.

Validus Holdings, Ltd. is a Bermuda-based reinsurer. The Company concentrates on property risks and other reinsurance lines.

Validus Holdings share prices have moved between a 52-week high of $48.49 and a 52-week low of $41.66 and closed yesterday at 13% above that low price at $47.09 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Validus Holdings (NYSE:VR) defies analysts with a current price ($47.09) 3.9% above its average consensus price target of $45.25. The stock should discover initial support at its 50-day moving average (MA) of $45.97 and subsequent support at its 200-day MA of $45.32.

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

Keywords: analyst upgrades/downgrades Validus Holdings

Ticker(s): VR