Aon (AOC) NewsBite - AOC Downgraded By BofA/Merrill

Posted: Thursday, November 19, 2009 1:54 PM EDT

Aon (AOC) was downgraded today by analysts at BofA/Merrill and the stock is now at $38.64, down $1.40 (-3.5%) on volume of 1,989,632 shares traded. The analysts downgraded the stock to Neutral from Buy. Over the last 52 weeks the stock has ranged from a low of $34.81 to a high of $46.50. Aon stock has been showing support around $39.55 and resistance in the $40.65 range. Technical indicators for the stock are bullish and S&P gives AOC a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AOC the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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