Electronic Arts (ERTS) NewsBite - ERTS Jumps on Upgrade

Posted on Monday, June 30, 2008 12:56 PM

Electronic Arts Inc. (ERTS) opened at 45.10. So far today, the stock has hit a low of 44.07 and a high of 45.79. ERTS is now trading at 45.56, up 1.62 (3.59%). The stock hit its 52 week high of 61.62 in October and set its 52 week low of 43.46 in June. ERTS has traded lower since September of last year. Shares of Electronic Arts have been soaring after a Soleil Securities Group analyst upped the stock to "Buy" from "Hold" and set a $55 price target, citing the company's strong product lineup. Technical indicators for the stock are bearish and steady while S&P gives ERTS a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $40 range. ERTS stock could fall up to 12.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]