Quanta Services (PWR) NewsBite - Quanta Services Lifted by Upgrade

Posted on Wednesday, January 30, 2008 1:12 PM

Quanta Services Inc. (PWR) opened at 21.60. So far today, the stock has hit a low of 21.10 and a high of 21.89. PWR is now trading at 21.61, up 0.66 (3.06%). The stock hit its 52 week high of 33.42 in October and set its 52 week low of 18.38 in January. PWR climbed through the first half of 2007, but has been weaker recently. Shares of Quanta Services have been taking a lift today after a JP Morgan analyst upped the stock to "Overweight" from "Neutral." Technical indicators for the stock are bearish and steady while S&P gives PWR a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider a March bull-put credit spread below the $17.50 range. PWR stock could fall up to 19% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]