Bankrate (RATE) NewsBite - RATE Downgraded By Citigroup

Posted: Tuesday, June 02, 2009 2:09 PM EDT

Bankrate (RATE) was downgraded today by analysts at Citigroup and the stock is now at $31.12, up $0.06 (0.19%) on volume of 175,078 shares traded. The analysts reduced the stock to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $15.77 to a high of $50.65. Bankrate stock has been showing support around $29.12 and resistance in the $32.66 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for RATE. If you are looking for a hedged play on RATE the stock seems like it could be a candidate for an August out-of-the-money bear-call credit spread above the 35 range. [ABR-Seven Summits Strategic Investments NewsBite]

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