iShares Dow Jones US Telecom Downgraded by Deutsche Bank to “Hold” (IYZ)
iShares Dow Jones US Telecom (NYSE:IYZ) was downgraded by equities researchers at Deutsche Bank from a “buy” rating to a “hold” rating in a research report issued on Tuesday, AnalystRatingsNetwork reports. They currently have a $2.90 target price on the stock, down from their previous target price of $31.00. Deutsche Bank’s price objective indicates a potential downside of 89.53% from the stock’s previous close.
Shares of iShares Dow Jones US Telecom (NYSE:IYZ) traded down 1.08% on Tuesday, hitting $27.39. 65,793 shares of the company’s stock traded hands. iShares Dow Jones US Telecom has a one year low of $22.52 and a one year high of $28.57. The stock’s 50-day moving average is $27.37 and its 200-day moving average is $26.75.
Separately, analysts at Barclays Capital initiated coverage on shares of iShares Dow Jones US Telecom in a research note to investors on Wednesday, September 11th. They set a “neutral” rating on the stock.
iShares Dow Jones U.S. Telecommunications Sector Index Fund (NYSE:IYZ) is a non-diversified fund.
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