Discover (DFS) NewsBite - Jeffries Initiates DFS at Buy

Posted: Tuesday, April 28, 2009 1:14 PM EDT

Discover (NYSE: DFS) opened at $8.03. So far today, the stock has hit a low of $7.86 and a high of $8.39. DFS is now trading at $8.36, up $0.28 (3.47%). Over the last 52 weeks the stock has ranged from a low of $4.73 to a high of $19.87. DFS shares are trading higher today after an analyst at Jefferies & Co. initiated coverage on the stock with a Buy rating and an $11 price target. 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 June out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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