KBR (KBR) NewsBite - KBR Moves Higher Despite Broker Downgrade

Posted: Monday, November 16, 2009 1:27 PM EDT

KBR (NYSE: KBR) opened at $20.30. So far today, the stock has hit a low of $20.21 and a high of $21.00. KBR is now trading at $20.93, up $0.31 (1.5%). Over the last 52 weeks the stock has ranged from a low of $9.78 to a high of $24.73. Analysts at Broadpoint AmTech Research downgraded KBR from Buy to Neutral today. However, shares of the stock are rising on the heels of a better-than-expected report on retail sales, which has lifted investors' hopes for a smooth economic recovery. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for KBR. If you are looking for a hedged play on KBR the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 18 range. [ABR-Seven Summits Strategic Investments NewsBite]

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