US Bancorp (USB) Upgrade Opens Good Trade Opportunity
Posted: Monday, November 30, 2009 11:40 AM EDT
US Bancorp (USB) was upgraded today by analysts at Robert W. Baird & Co. and the stock is now at $23.66, up $0.71 (3.09%) on volume of 4,413,043 shares traded. Robert W. Baird & Co. upgraded the stock today to Outperform from Neutral. Over the last 52 weeks the stock has ranged from a low of $8.06 in March to a high of $29.90 in December. US Bancorp stock has been showing support around $22.38 and resistance in the $23.70 range. Technical indicators for the stock are neutral and S&P gives USB a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on USB the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
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