Polo Ralph Lauren (RL) NewsBite - Polo Ralph Lauren Rallying on Upgrade

Posted on Wednesday, June 25, 2008 12:26 PM

Polo Ralph Lauren Corp. (RL) opened at 66.52. So far today, the stock has hit a low of 65.20 and a high of 67.99. RL is now trading at 67.14, up 2.99 (4.49%). The stock hit its 52 week high of 102.58 in July and set its 52 week low of 50.55 in January. RL has fell during the second half of 2007, but has been stronger this year. Polo Ralph Lauren shares have been soaring after a Morgan Keegan analyst upgraded the stock to "Market Perform" from "Underperform," citing growth potential. Technical indicators for the stock are bullish and steady while S&P gives RL a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an October bull-put credit spread below the $50 range. RL stock could fall up to 25.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]