TMCnet News
Downgrade Alert for Synovus Financial (SNV)May 20, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Synovus Financial (NYSE:SNV) was downgraded from Neutral to Sell at Goldman Sachs today. The stock closed yesterday at $2.86 on volume of 9.9 million shares, above average daily volume of 9.3 million. Synovus Financial Corp. is a financial services holding company that provides various financial services. The Company, through its subsidiaries, provides commercial and retail banking, as well as investment services, to customers in Georgia, Alabama, South Carolina, Florida and Tennessee. Potential upside of 2.7% exists for Synovus Financial, based on a current level of $2.79 and analysts' average consensus price target of $2.87. The stock should discover initial support at its 50-day moving average (MA) of $2.72 and subsequent support at its 200-day MA of $2.47. Synovus Financial share prices have moved between a 52-week high of $2.90 and a 52-week low of $1.67 and are now trading 67% above that low price at $2.79 per share. The 200-day and 50-day moving averages have moved 0.97% higher and 0.70% higher over the past week, respectively. SmarTrend is tracking the current trend status for Synovus Financial and will alert subscribers who have SNV in their portfolio or watchlist when shares have changed trend direction. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |