Coventry Healthcare (CVH) NewsBite - CVH Upgraded By Wachovia

Posted: Monday, January 26, 2009 12:09 PM EDT

Coventry Healthcare (CVH) was upgraded today by analysts at Wachovia and the stock is now at $14.47, up $0.99 (7.31%) on volume of 885,736 shares traded. The analysts upped CVH to "Outperform" from Market Perform." Over the last 52 weeks the stock has ranged from a low of $9.44 to a high of $57.12. Coventry Healthcare stock has been showing support around $11.71 and resistance in the $14.57 range. Technical indicators for the stock are neutral and S&P gives CVH a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CVH the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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