Avery Dennison (AVY) NewsBite - AVY Falls on Downgrade
Posted: Thursday, March 04, 2010 10:59 AM EDT
By: Market Intelligence Center Staff
Avery Dennison (NYSE: AVY) opened at $30.53. So far today, the stock has hit a low of $30.22 and a high of $30.65. AVY is now trading at $30.47, down $0.97 (-3.07%). Over the last 52 weeks the stock has ranged from a low of $17.02 to a high of $40.23. AVY was downgraded at BofA/Merrill Lynch this morning to Neutral from Buy. Technical indicators for the stock are bullish and S&P gives AVY a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AVY the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Avery Dennison (AVY) Stock ReportSee what our analysts have uncovered about Avery Dennison (AVY).