NRG Energy (NRG) NewsBite - NRG Downgraded By Jefferies & Co.

Posted: Wednesday, October 21, 2009 1:35 PM EDT

NRG Energy (NRG) was downgraded today by analysts at Jefferies & Co. and the stock is now at $27.82, down $0.43 (-1.52%) on volume of 2,602,785 shares traded. The brokerage downgraded the stock to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $15.19 to a high of $29.26. NRG Energy stock has been showing support around $27.51 and resistance in the $29.31 range. Technical indicators for the stock are bullish and S&P gives NRG a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on NRG the stock seems like it could be a candidate for a January out-of-the-money bear-call credit spread above the 32.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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