UBS Gives AmerisourceBergen (ABC) An Upgrade

Posted: Thursday, November 19, 2009 12:12 PM EDT

AmerisourceBergen (ABC) was upgraded today by analysts at UBS and the stock is now at $24.19, down $0.20 (-0.82%) on volume of 1,298,387 shares traded. UBS has lifted its rating on the stock to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $13.33 in last November to a high of $24.85 in earlier this month. AmerisourceBergen stock has been showing support around $23.96 and resistance in the $24.78 range. Technical indicators for the stock are bullish and S&P gives ABC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on ABC the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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