Lamar Advertising (LAMR) NewsBite - LAMR Hits 52-Week High

Posted: Tuesday, October 20, 2009 12:31 PM EDT

Lamar Advertising (NasdaqNM: LAMR) hit a new 52-Week high of $29.70 so far today. Currently the stock is up $0.26 (0.9%) to $29.04 on 705,202 shares traded. Today's high is up $23.69 from a 52-Week Low of $5.35. Lamar Advertising stock has been showing support around $26.98 and resistance in the $30.00 range. Technical indicators for the stock are neutral and S&P gives LAMR a neutral 3 STARS (out of 5) hold ranking. LAMR traded up to a new 52 week high today following an upgrade by Caris to Above Average from Below Average. Caris raised its price target on the stock today to $34 from $19. If you are looking for a hedged play on LAMR 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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