Prudential Financial (PRU) NewsBite - PRU Upgraded By Citigroup

Monday, December 01, 2008 2:17 PM EDT

Prudential Financial (PRU) was upgraded today by analysts at Citigroup and the stock is now at $19.00, down $2.70 (-12.44%) on volume of 5,102,394 shares traded. Citigroup upgraded PRU from Hold to Buy today and moved their price target on the stock to $30. Over the last 52 weeks the stock has ranged from a low of $13.10 in November to a high of $98.31 in December of last year. Prudential Financial stock has been showing support around $19.55 and resistance in the $22.95 range. Technical indicators for the stock are bullish and S&P gives PRU a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PRU the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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