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Downgrade Alert for Cott (COT)
Dec 04, 2012 (SmarTrend(R) Upgrades/Downgrades via COMTEX) --
Cott (NYSE:COT) was downgraded from Buy to Hold at Stifel Nicolaus today. The stock closed yesterday at $8.60 on volume of 117,000 shares, below average daily volume of 325,000. Cott has overhead space with shares priced $8.60, or 14.6% below the average consensus analyst price target of $10.07. The stock should find initial support at its 50-day moving average (MA) of $8.17 and further support at its 200-day MA of $7.69.
In the past 52 weeks, Cott share prices have been bracketed by a low of $6.01 and a high of $8.77 and closed yesterday at $8.60, 43% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.5%.
Cott Corporation produces and distributes a variety of premium beverages. The Company's beverages include soft drinks, new age beverages, iced teas, juice drinks, sports drinks, and bottled water. Cott operates manufacturing facilities in Canada, the United States, the United Kingdom. The Company markets its beverages to retailers worldwide.
SmarTrend is monitoring the recent change of momentum in Cott. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cott in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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