Nabors Industries (NBR) NewsBite - Canaccord Adams Starts NBR at Buy

Posted: Wednesday, November 11, 2009 1:48 PM EDT

Nabors Industries (NYSE: NBR) opened at $22.86. So far today, the stock has hit a low of $22.62 and a high of $23.24. NBR is now trading at $22.72, up $0.06 (0.26%). Over the last 52 weeks the stock has ranged from a low of $8.25 to a high of $24.07. NBR shares are rising today after analysts at Canaccord Adams initiated the stock at Buy. Technical indicators for the stock are neutral and S&P gives NBR a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on NBR the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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