Repsol YPF (REP) NewsBite - REP Upgraded By JP Morgan

Posted: Friday, October 02, 2009 2:03 PM EDT

Repsol YPF (REP) was upgraded today by analysts at JP Morgan and the stock is now at $26.32, up $0.05 (0.19%) on volume of 237,688 shares traded. The analysts upgraded the stock to Neutral from Underperform. Over the last 52 weeks the stock has ranged from a low of $14.19 to a high of $28.75. Repsol YPF stock has been showing support around $25.89 and resistance in the $27.03 range. Technical indicators for the stock are bearish and S&P gives REP a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on REP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 22.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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