Suntech Power (STP) NewsBite - STP Upgraded By Credit Suisse

Posted: Monday, June 01, 2009 1:45 PM EDT
By: Market Intelligence Center Staff





Suntech Power (STP) was upgraded today by analysts at Credit Suisse and the stock is now at $17.47, up $1.13 (6.92%) on volume of 5,601,757 shares traded. The analysts upgraded STP to Neutral from Underperform. Over the last 52 weeks the stock has ranged from a low of $5.09 to a high of $48.64. Suntech Power stock has been showing support around $15.22 and resistance in the $17.46 range. Technical indicators for the stock are neutral and S&P gives STP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on STP the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]



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Hedged Trade Ideas For STP:

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