Verizon Communications (VZ) NewsBite - VZ Upgraded By Credit Suisse
Posted: Friday, October 23, 2009 11:40 AM EDT
By: Market Intelligence Center Staff
Verizon Communications (VZ) was upgraded today by analysts at Credit Suisse and the stock is now at $28.87, down $0.15 (-0.52%) on volume of 6,359,151 shares traded. Credit Suisse upgraded the stock today to Outperform, up from a previous Neutral. Over the last 52 weeks the stock has ranged from a low of $24.26 in last October to a high of $34.90 in December. Verizon Communications stock has been showing support around $28.64 and resistance in the $29.68 range. Technical indicators for the stock are bullish and S&P gives VZ a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on VZ the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]
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