Hercules Offshore (HERO) NewsBite - HERO Upgraded By Credit Suisse

Posted: Monday, November 09, 2009 1:41 PM EDT

Hercules Offshore (HERO) was upgraded today by analysts at Credit Suisse and the stock is now at $5.74, up $0.70 (13.89%) on volume of 5,294,512 shares traded. The analysts upped the stock to Outperform from Neutral. Over the last 52 weeks the stock has ranged from a low of $1.07 to a high of $7.28. Hercules Offshore stock has been showing support around $4.80 and resistance in the $5.40 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for HERO. If you are looking for a hedged play on HERO the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 5 range. [ABR-Seven Summits Strategic Investments NewsBite]

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