VeriSign (VRSN) NewsBite - VRSN Upgraded By Cowen & Co.

Posted: Monday, July 06, 2009 9:58 AM EDT

VeriSign (VRSN) was upgraded today by analysts at Cowen & Co. and the stock is now at $18.48, up $.43 (2.38%) on volume of 585,550 shares traded. The brokerage lifted VRSN to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $16.23 to a high of $37.57. VeriSign stock has been showing support around $17.42 and resistance in the $18.64 range. Technical indicators for the stock are bullish and S&P gives VRSN a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on VRSN the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 15 range. [ABR-Seven Summits Strategic Investments NewsBite]

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