Synovus Financial Corp. (SNV) NewsBite - SNV Upgraded By Morgan Keegan

Posted: Thursday, February 26, 2009 2:08 PM EDT

Synovus Financial Corp. (SNV) was upgraded today by analysts at Morgan Keegan and the stock is now at $4.02, up $0.85 (26.81%) on volume of 7,585,682 shares traded. The brokerage upped SNV to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $2.33 to a high of $13.25. Synovus Financial Corp. has been showing support around $2.43 and resistance in the $3.71 range. Technical indicators for the stock are bearish and S&P gives SNV a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on SNV the stock seems like it could be a candidate for an August covered call above the 2.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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