Corinthian Colleges (COCO) NewsBite - COCO Price Target Raised

Posted on Wednesday, July 23, 2008 12:38 PM

Corinthian Colleges Inc. (COCO) opened at 14.16. So far today, the stock has hit a low of 14.06 and a high of 14.84. COCO is now trading at 14.54, up 0.93 (6.57%). The stock hit its 52 week high of 18.25 in December and set its 52 week low of 6.45 in January. COCO had a big plunge at the beginning of this year, but has been stronger since then. Shares of Corinthian Colleges have been soaring today after a Lehman Brothers analyst raised his price target for the stock to $16 from $15, anticipating the company will react well to good quarterly results. Technical indicators for the stock are bullish and steady while S&P gives COCO a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a November bull-put credit spread below the $10 range. COCO stock could fall up to 31.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]