Fifth Third Bancorp (FITB) NewsBite - Credit Suisse Starts FITB at Outperform

Posted: Friday, November 13, 2009 2:36 PM EDT

Fifth Third Bancorp (NasdaqNM: FITB) opened at $9.78. So far today, the stock has hit a low of $9.58 and a high of $9.85. FITB is now trading at $9.78, up $0.24 (2.52%). Over the last 52 weeks the stock has ranged from a low of $1.01 to a high of $11.20. Credit Suisse initiated coverage on FITB today, starting the stock at Outperform with a $15 price target. Technical indicators for the stock are neutral and S&P gives FITB a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FITB the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 8 range. [ABR-Seven Summits Strategic Investments NewsBite]

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