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City National Up 2.0% Since JP Morgan Downgraded One Week Ago (CYN)

Published on Thu, 01/17/2013 - 10:10
By Mallory Stone

City National was downgraded from Overweight to Neutral by JP Morgan one week ago. City National shares are selling at $52.72, 2.0% above the $51.68 price point of one week ago.

City National Corporation is the holding company for City National Bank. The Bank offers private and business banking services throughout California, Nevada and New York City. City National serves the needs of small to midsized businesses and affluent individuals, offering a variety of investment products and services, including the CNI Charter family of mutual funds.

City National share prices have moved between a 52-week high of $54.83 and a 52-week low of $45.03 and are now trading 17% above that low price at $52.81 per share. The 200-day and 50-day moving averages have moved 0.03% lower and 0.09% higher over the past week, respectively.

City National (NYSE:CYN) has potential upside of 1.3% based on a current price of $52.81 and analysts' consensus price target of $53.49. The stock should discover initial support at its 200-day moving average (MA) of $50.38 and subsequent support at its 50-day MA of $49.85.

By Mallory Stone
mstone@fnno.com

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