NetSuite (N) NewsBite - N Upgraded By Wedbush Morgan

Posted: Thursday, November 05, 2009 1:30 PM EDT

NetSuite (N) was upgraded today by analysts at Wedbush Morgan and the stock is now at $15.25, up $0.60 (4.1%) on volume of 263,704 shares traded. The brokerage upped N to Neutral from Underperform. Over the last 52 weeks the stock has ranged from a low of $5.43 to a high of $17.48. NetSuite stock has been showing support around $13.48 and resistance in the $15.58 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for N. If you are looking for a hedged play on N the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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