Novellus Systems (NVLS) NewsBite - NVLS Upgraded By PacCrest
Posted: Friday, October 09, 2009 11:40 AM EDT
By: Market Intelligence Center Staff
Novellus Systems (NVLS) was upgraded today by analysts at PacCrest and the stock is now at $20.90, up $0.57 (2.8%) on volume of 1,455,204 shares traded. PacCrest upgraded the stock today to Outperform from Sector Perform and has a $28 price target on the stock. Over the last 52 weeks the stock has ranged from a low of $10.26 in November to a high of $21.70 in September. Novellus Systems stock has been showing support around $19.74 and resistance in the $20.86 range. Technical indicators for the stock are bullish and S&P gives NVLS a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on NVLS the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Novellus Systems (NVLS) Stock ReportSee what our analysts have uncovered about Novellus Systems (NVLS).