Continental Airlines (CAL) NewsBite - CAL Upgraded By Barclays

Posted: Wednesday, October 14, 2009 11:27 AM EDT

Continental Airlines (CAL) was upgraded today by analysts at Barclays and the stock is now at $17.06, up $0.53 (3.18%) on volume of 1,867,204 shares traded. Barclays upgraded the stock today to Equal Weight from Underweight, and has a $23 price target on the stock. Over the last 52 weeks the stock has ranged from a low of $6.37 in March to a high of $21.83 in January. Continental Airlines stock has been showing support around $15.57 and resistance in the $17.21 range. Technical indicators for the stock are bullish and S&P gives CAL a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on CAL the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 12 range. [ABR-Seven Summits Strategic Investments NewsBite]

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