Plantronics (PLT) NewsBite - PLT Downgraded By Morgan Keegan

Posted: Friday, July 24, 2009 1:38 PM EDT

Plantronics (PLT) was downgraded today by analysts at Morgan Keegan and the stock is now at $20.22, down $1.26 (-5.87%) on volume of 234,916 shares traded. The brokerage downgraded PLT to Market Perform from Outperform. Over the last 52 weeks the stock has ranged from a low of $7.42 to a high of $26.70. Plantronics stock has been showing support around $20.12 and resistance in the $22.30 range. Technical indicators for the stock are neutral and S&P gives PLT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on PLT the stock seems like it could be a candidate for a November out-of-the-money bear-call credit spread above the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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