AES (AES) NewsBite - AES Downgraded By Barclays Capital

Friday, October 24, 2008 1:56 PM EDT

AES (AES) was downgraded today by analysts at Barclays Capital and the stock is now at $7.57, down $0.85 (-10.10%) on volume of 5,060,997 shares traded. The brokerage downgraded the stock to "Equalweight" from "Overweight." Over the last 52 weeks the stock has ranged from a low of $6.66 to a high of $23.09. AES stock has been showing support around $7.27 and resistance in the $9.55 range. Technical indicators for the stock are bullish and S&P gives AES a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on AES the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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