Pulte Homes (PHM) NewsBite - PHM Downgraded By Credit Suisse

Posted: Thursday, April 02, 2009 2:08 PM EDT

Pulte Homes (PHM) was downgraded today by analysts at Credit Suisse and the stock is now at $11.28, up $.05 (0.45%) on volume of 7,118,875 shares traded. Credit Suisse downgraded PHM today from "Neutral" to "Underperform." Over the last 52 weeks the stock has ranged from a low of $6.49 in November to a high of $17.32 in September. Pulte Homes stock has been showing support around $10.02 and resistance in the $12.10 range. Technical indicators for the stock are bullish and S&P gives PHM a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PHM the stock seems like it could be a candidate for a May out-of-the-money bear-call credit spread above the 14 range. [ABR-Seven Summits Strategic Investments NewsBite]

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