Franklin Resources (BEN) NewsBite - BEN Downgraded By Pali Research
Posted: Monday, November 30, 2009 11:19 AM EDT
Franklin Resources (BEN) was downgraded today by analysts at Pali Research and the stock is now at $107.23, down $1.74 (-1.60%) on volume of 377,871 shares traded. The analysts reduced BEN to Neutral from Buy. Over the last 52 weeks the stock has ranged from a low of $37.11 to a high of $116.39. Franklin Resources stock has been showing support around $107.79 and resistance in the $110.93 range. Technical indicators for the stock are bullish and S&P gives BEN a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on BEN the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 125 range. [ABR-Seven Summits Strategic Investments NewsBite]
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