Motorola (MOT) NewsBite - MOT Upgraded By Citigroup

Posted: Monday, November 02, 2009 10:04 AM EDT

Motorola (MOT) was upgraded today by analysts at Citigroup and the stock is now at $8.88, up $0.29 (3.38%) on volume of 6,173,926 shares traded. The analysts lifted MOT to Buy from Hold, adding in a note to investors that the company could see some sales momentum from Google's (GOOG) Android software, which is available on MOT smartphones. Over the last 52 weeks the stock has ranged from a low of $2.98 to a high of $9.45. Motorola stock has been showing support around $8.23 and resistance in the $9.11 range. Technical indicators for the stock are bullish and S&P gives MOT a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on MOT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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