Forest Laboratories (FRX) NewsBite - Trading Lower Bullish Rating By Jefferies
Posted: Friday, October 02, 2009 12:32 PM EDT
By: Market Intelligence Center Staff
Forest Laboratories (NYSE: FRX) opened at $28.74. So far today, the stock has hit a low of $28.44 and a high of $28.91. FRX is now trading at $28.52, down $.26 (-0.9%). The stock hit its 52-Week high of $29.82 in September and set its 52-Week low of $18.37 in March. Jefferies initiated coverage on Forest Labs today with a Buy rating and a $36 price target. Technical indicators for the stock are neutral and S&P gives FRX a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on FRX the stock seems like it could be a candidate for a November out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Forest Laboratories (FRX) Stock ReportSee what our analysts have uncovered about Forest Laboratories (FRX).