Suntech Power (STP) NewsBite - STP Upgraded By Ardour Capital
Posted: Wednesday, July 01, 2009 1:12 PM EDT
By: Market Intelligence Center Staff
Suntech Power (STP) was upgraded today by analysts at Ardour Capital and the stock is now at $19.00, up $1.14 (6.38%) on volume of 6,127,994 shares traded. The brokerage upped STP to Buy from Hold. 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 $16.99 and resistance in the $18.87 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 an August out-of-the-money bull-put credit spread below the 16 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Suntech Power (STP) Stock ReportSee what our analysts have uncovered about Suntech Power (STP).