Altria Group (MO) NewsBite - MO Downgraded By Credit Suisse

Posted: Monday, September 21, 2009 10:57 AM EDT

Altria Group (MO) was downgraded today by analysts at Credit Suisse and the stock is now at $17.81, down $0.15 (-0.84%) on volume of 3,891,798 shares traded. The analysts downgraded MO to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $14.34 to a high of $20.96. Altria Group stock has been showing support around $17.87 and resistance in the $18.13 range. Technical indicators for the stock are bullish and S&P gives MO a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on MO the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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