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

Posted: Friday, June 05, 2009 2:31 PM EDT

Pulte Homes (PHM) was upgraded today by analysts at Credit Suisse and the stock is now at $8.87, up $0.33 (3.86%) on volume of 8,834,941 shares traded. The analysts lifted the stock to Neutral from Underperform. Over the last 52 weeks the stock has ranged from a low of $6.49 to a high of $17.32. Pulte Homes stock has been showing support around $8.10 and resistance in the $8.94 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 July out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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