Vulcan Materials (VMC) NewsBite - VMC Upgraded By UBS
Posted: Friday, November 20, 2009 1:14 PM EDT
Vulcan Materials (VMC) was upgraded today by analysts at UBS and the stock is now at $49.30, down $0.20 (-0.4%) on volume of 837,657 shares traded. The analysts lifted VMC to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $34.30 to a high of $77.95. Vulcan Materials stock has been showing support around $47.84 and resistance in the $51.00 range. Technical indicators for the stock are bearish and S&P gives VMC a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on VMC the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]
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