Webster Financial (WBS) NewsBite - WBS Upgraded By Barclays Capital

Posted: Wednesday, November 11, 2009 10:34 AM EDT

Webster Financial (WBS) was upgraded today by analysts at Barclays Capital and the stock is now at $12.89, up $1.36 (11.8%) on volume of 512,867 shares traded. The brokerage upped WBS to Overweight from Equalweight. Over the last 52 weeks the stock has ranged from a low of $2.85 to a high of $16.51. Webster Financial stock has been showing support around $11.00 and resistance in the $12.08 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for WBS. If you are looking for a hedged play on WBS the stock seems like it could be a candidate for an April covered call above the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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