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Analyst Rating Flashback: Northeast Utilities Up 2.0% Since Downgraded 7 Days Ago (NU)

Published on Wed, 01/30/2013 - 10:11
By Mallory Stone

A week ago, Argus Research downgraded Northeast Utilities from Buy to Hold. Northeast Utilities stocks closed at $40.63, a 2.0% gain over the course of one week.

Northeast Utilities is a public utility holding company. The Company, through its subsidiaries, provides retail electric service to customers in Connecticut, New Hampshire, and western Massachusetts. Northeast also distributes natural gas throughout Connecticut.

There is potential upside of 5.6% for shares of Northeast Utilities based on a current price of $40.71 and an average consensus analyst price target of $43.00. The stock should discover initial support at its 50-day moving average (MA) of $39.05 and subsequent support at its 200-day MA of $38.28.

Northeast Utilities share prices have moved between a 52-week high of $40.86 and a 52-week low of $34.32 and are now trading 19% above that low price at $40.71 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.4%.

By Mallory Stone