Charles River Laboratories (CRL) NewsBite - CRL Downgraded By Barclays Capital

Posted: Monday, November 09, 2009 1:32 PM EDT

Charles River Laboratories International (CRL) was downgraded today by analysts at Barclays Capital and the stock is now at $33.60, down $0.79 (-2.3%) on volume of 486,514 shares traded. The analysts downgraded CRL to Equal Weight from Overweight. Over the last 52 weeks the stock has ranged from a low of $19.92 to a high of $40.14. Charles River Laboratories International stock has been showing support around $33.72 and resistance in the $34.96 range. Technical indicators for the stock are neutral and S&P gives CRL a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CRL the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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