Fifth Third Bancorp (FITB) Rises on Competitor's Upgrade
Posted: Monday, November 30, 2009 11:25 AM EDT
Fifth Third Bancorp (NasdaqNM: FITB) opened at $9.69. So far today, the stock has hit a low of $9.69 and a high of $9.97. FITB is now trading at $9.92, up $0.35 (3.66%). Over the last 52 weeks the stock has ranged from a low of $1.01 to a high of $11.20. FITB shares are receiving momentum this morning from an upgrade of competitor US Bancorp (USB). Robert W. Baird lifte the stock to Outperform from Neutral. Technical indicators for the stock are neutral and S&P gives FITB a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FITB the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 8 range. [ABR-Seven Summits Strategic Investments NewsBite]
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