Hess (HES) NewsBite - HES Upgraded By Morgan Stanley

Posted: Friday, November 20, 2009 1:24 PM EDT

Hess (HES) was upgraded today by analysts at Morgan Stanley and the stock is now at $58.46, up $.90 (1.56%) on volume of 3,652,603 shares traded. The analysts upped HES to Overweight from Equal Weight. Over the last 52 weeks the stock has ranged from a low of $35.50 to a high of $69.74. Hess stock has been showing support around $56.39 and resistance in the $58.95 range. Technical indicators for the stock are bullish and S&P gives HES a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on HES the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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