Harman International Industries (HAR) NewsBite - HAR Rises on Overweight Rating

Posted: Tuesday, August 25, 2009 9:58 AM EDT

Harman International Industries (NYSE: HAR) opened at $28.29. So far today, the stock has hit a low of $28.16 and a high of $28.98. HAR is now trading at $28.84, up $1.74 (6.40%). Over the last 52 weeks the stock has ranged from a low of $9.17 to a high of $36.84. Analysts at JP Morgan initiated HAR this morning at Overweight. Technical indicators for the stock are bearish and S&P gives HAR a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on HAR the stock seems like it could be a candidate for an October out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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