Whole Foods Market (WFMI) Upgraded By BMO Capital Markets

Posted: Thursday, November 19, 2009 1:36 PM EDT

Whole Foods Market (WFMI) was upgraded today by analysts at BMO Capital Markets and the stock is now at $26.78, up $0.57 (2.17%) on volume of 2,572,455 shares traded. The brokerage upped WFMI to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $7.04 to a high of $34.40. Whole Foods Market stock has been showing support around $25.79 and resistance in the $26.75 range. Technical indicators for the stock are bearish and S&P gives WFMI a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on WFMI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 24 range. [ABR-Seven Summits Strategic Investments NewsBite]

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