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Cedar Shopping Centers Up 5.5% Since Stifel Upgraded One Week Ago (CDR)

Published on Mon, 04/01/2013 - 09:10
By Adrienne Chilton

Stifel upgraded Cedar Shopping Centers (NYSE:CDR) from Hold to Buy a week ago. The shares closed at $6.11, or 5.5% over the $5.79 price of one week ago.

Cedar Shopping Centers (NYSE:CDR) is currently priced 14.1% above its average consensus analyst price target of $5.25. The stock should discover initial support at its 50-day moving average (MA) of $5.56 and subsequent support at its 200-day MA of $5.33.

Cedar Shopping Centers Inc. is a real estate investment trust. The Company has investments primarily in multi-tenant, supermarket-anchored shopping centers and drug store-anchored convenience centers.

In the past 52 weeks, shares of Cedar Shopping Centers have traded between a low of $4.53 and a high of $6.18 and are now at $6.11, which is 35% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.3%.

By Adrienne Chilton
achilton@fnno.com