Repsol (REP) NewsBite - Repsol Higher on Upgrade

Posted on Wednesday, January 09, 2008 1:32 PM

Repsol SA (REP) opened at 36.75. So far today, the stock has hit a low of 36.63 and a high of 36.97. REP is now trading at 36.65, up 0.85 (2.31%). The stock hit its 52 week high of 41.33 in July and set its 52 week low of 30.33 in March. REP has been generally higher for the past year. Repsol shares have been trading higher in today's session after the company received an upgrade to "Equal Weight" from "Underweight." Technical indicators for the stock are bearish and steady while S&P gives REP a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a February bull-put credit spread below the $35 range. REP stock could fall up to 4.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]