Netease.com (NTES) NewsBite - Netease.com Jumps on Upgrade

Posted on Monday, July 21, 2008 11:42 AM

Netease.com Inc. (NTES) opened at 22.18. So far today, the stock has hit a low of 21.57 and a high of 22.18. NTES is now trading at 21.96, up 1.09 (4.91%). The stock hit its 52 week high of 25.70 in May and set its 52 week low of 13.45 in August. NTES has been rising for most of the past year. Shares of Netease.com have been taking a lift after a Credit Suisse analyst upgraded the stock to "Outperform" from "Neutral." The broker also increased his target price to $27.70 from $23. Technical indicators for the stock are bearish and steady. If you’re looking for a hedged play on this stock, consider a September bull-put credit spread below the $17.50 range. NTES stock could fall up to 20.3% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]