Time Warner (TWX) NewsBite - TWX Upgraded By Bernstein

Monday, December 01, 2008 2:05 PM EDT

Time Warner (TWX) was upgraded today by analysts at Bernstein and the stock is now at $8.67, down $.38 (-4.2%) on volume of 16,801,978 shares traded. Bernstein upgraded TWX today from Market Perform to Outperform. Over the last 52 weeks the stock has ranged from a low of $7.00 in November to a high of $17.50 in December of last year. Time Warner stock has been showing support around $8.22 and resistance in the $9.50 range. Technical indicators for the stock are neutral and S&P gives TWX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on TWX the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 6 range. [ABR-Seven Summits Strategic Investments NewsBite]

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