Credit Suisse Group (CS) NewsBite - CS Downgraded By Deutsche Securities

Posted: Friday, October 24, 2008 1:58 PM EDT

Credit Suisse Group (CS) was downgraded today by analysts at Deutsche Securities and the stock is now at $35.11, down $3.07 (-8.04%) on volume of 777,863 shares traded. The brokerage downgraded CS to "Hold" from "Buy." Over the last 52 weeks the stock has ranged from a low of $30.01 to a high of $67.94. Credit Suisse Group stock has been showing support around $33.89 and resistance in the $40.75 range. Technical indicators for the stock are neutral and S&P gives CS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CS the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 45 range. [ABR-Seven Summits Strategic Investments NewsBite]

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