TMCnet News
Downgrade Alert for General Growth Properties (GGP)Feb 06, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- General Growth Properties (NYSE:GGP) was downgraded from Equal Weight to Underweight at Evercore today. The stock closed yesterday at $19.98 on volume of 3.7 million shares, below average daily volume of 4.9 million. There is potential upside of 1.9% for shares of General Growth Properties based on a current price of $20.21 and an average consensus analyst price target of $20.59. The stock should discover initial support at its 50-day moving average (MA) of $19.58 and subsequent support at its 200-day MA of $18.73. General Growth Properties, Inc. is a real estate investment trust (REIT). The Company owns, operates, leases, acquires and expands enclosed regional shopping mall centers throughout the United States. The REIT, with its operating partnership also has unconsolidated equity interests in other regional mall companies. In the past 52 weeks, shares of General Growth Properties have traded between a low of $15.85 and a high of $21.25 and closed yesterday at $20.21, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.24% higher and 0.37% higher over the past week, respectively. SmarTrend is tracking the current trend status for General Growth Properties and will alert subscribers who have GGP 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 |