Jefferies Group (JEF) NewsBite - JEF Downgraded By Goldman Sachs

Posted: Monday, November 23, 2009 11:17 AM EDT

Jefferies Group (JEF) was downgraded today by analysts at Goldman Sachs and the stock is now at $25.49, down $1.08 (-4.06%) on volume of 1,115,022 shares traded. The analysts reduced JEF to Neutral from Buy. Over the last 52 weeks the stock has ranged from a low of $7.97 to a high of $30.99. Jefferies Group stock has been showing support around $25.78 and resistance in the $27.90 range. Technical indicators for the stock are bullish and S&P gives JEF a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on JEF the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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