California Pizza Kitchen (CPKI) NewsBite - CPKI Surges on Upgrade

Posted on Wednesday, May 07, 2008 12:02 PM

California Pizza Kitchen Inc. (CPKI) opened at 16.40. So far today, the stock has hit a low of 16.22 and a high of 16.61. CPKI is now trading at 16.40, up 0.64 (3.90%). The stock hit its 52 week high of 25.23 in May and set its 52 week low of 9.32 in January. CPKI fell through 2007, but has been stronger this year. Shares of California Pizza Kitchen have been soaring following a KeyBanc Capital Markets analyst's decision to upgrade the stock to "Buy" from "Hold." Technical indicators for the stock are bullish and steady. If you’re looking for a hedged play on this stock, consider an October bear-call credit spread above the $12.50 range. CPKI stock could fall up to 23.8% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]