TMCnet News
Downgrade Alert for Infinera (INFN)Jun 17, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Infinera (NASDAQ:INFN) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $11.24 on volume of 1.0 million shares, below average daily volume of 2.4 million. Infinera (NASDAQ:INFN) is currently priced 14.6% above its average consensus analyst price target of $9.60. Infinera shares have support at the 50-day moving average (MA) of $8.75 and additional support at the 200-day MA of $6.69. Infinera Corporation manufactures digital optical telecommunications equipment. The Company uses photonic integrated circuits to create digital optical networks. Infinera markets its products to carriers, data service providers, and cable operators. In the past 52 weeks, Infinera share prices have been bracketed by a low of $4.33 and a high of $11.65 and closed yesterday at $11.24, 160% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 2.2% while the 50-day MA has advanced 5.9%. SmarTrend recommended that subscribers consider buying shares of Infinera on April 25th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.15. Since that recommendation, shares of Infinera have risen 37.9%. We continue to monitor INFN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. 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 |