Penn Virginia Corp. (PVA) Gets Boost From Broker Upgrade

Posted: Monday, November 23, 2009 2:31 PM EDT

Penn Virginia Corp. (PVA) was upgraded today by analysts at Sun Trust Robinson Humphrey and the stock is now at $19.27, up $1.19 (6.58%) on volume of 599,705 shares traded. The analysts upgraded PVA to Buy from Neutral. Over the last 52 weeks the stock has ranged from a low of $7.22 to a high of $31.53. Penn Virginia Corp. stock has been showing support around $17.01 and resistance in the $19.53 range. Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for PVA. If you are looking for a hedged play on PVA the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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