Downgrade Alert for MetroPCS Communications (PCS)

MetroPCS Communications (NYSE:PCS) was downgraded from Buy to Hold at Argus Research today. The stock closed yesterday at $7.08 on volume of 21.1 million shares, above average daily volume of 4.0 million.In the past 52 weeks, shares of MetroPCS Communications have traded between a low of $6.79 and a high of $18.79 and closed yesterday at $7.08, which is 4% above that low price. The 200-day and 50-day moving averages have moved 1.92% lower and 1.76% lower over the past week, respectively.Potential upside of 71.8% exists for MetroPCS Communications, based on a current level of $7.08 and analysts’ average consensus price target of $12.17. MetroPCS Communications shares should first meet resistance at the 50-day moving average (MA) of $9.50 and find additional resistance at the 200-day MA of $9.74.