Discover (DFS) NewsBite - DFS Downgraded By Stifel Nicolaus

Posted: Tuesday, April 14, 2009 1:27 PM EDT

Discover (DFS) was downgraded today by analysts at Stifel Nicolaus and the stock is now at $7.77, down $0.68 (-8.05%) on volume of 8,590,889 shares traded. The analysts downgraded DFS to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $4.73 to a high of $19.87. Discover stock has been showing support around $7.58 and resistance in the $9.04 range. Technical indicators for the stock are neutral and S&P gives DFS a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on DFS the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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