Digital River (DRIV) NewsBite - DRIV Downgraded By Credit Suisse

Posted: Monday, September 29, 2008 1:42 PM EDT

Digital River (DRIV) was downgraded today by analysts at Credit Suisse and the stock is now at $32.56, down $3.47 (-9.63%) on volume of 1,978,770 shares traded. The analyst downgraded the stock to "Neutral" from "Outperform." Over the last 52 weeks the stock has ranged from a low of $29.17 to a high of $53.52. Digital River stock has been showing support around $34.66 and resistance in the $38.00 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for DRIV. If you are looking for a hedged play on DRIV the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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