SAP AG (SAP) NewsBite - SAP Downgraded By Friedman, Billings, Ramsey & Co.

Posted: Thursday, February 12, 2009 1:52 PM EDT

SAP AG (SAP) was downgraded today by analysts at Friedman, Billings, Ramsey & Co. and the stock is now at $36.29, down $0.86 (-2.31%) on volume of 1,729,904 shares traded. The brokerage downgraded SAP to "Underperform" from "Market Perform." Over the last 52 weeks the stock has ranged from a low of $29.31 to a high of $59.42. SAP AG stock has been showing support around $36.13 and resistance in the $38.11 range. Technical indicators for the stock are neutral and S&P gives SAP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on SAP the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 40 range. [ABR-Seven Summits Strategic Investments NewsBite]

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