Overseas Shipholding (OSG) NewsBite - OSG Upgraded By FBR Capital Markets

Posted: Tuesday, November 03, 2009 2:21 PM EDT

Overseas Shipholding (OSG) was upgraded today by analysts at FBR Capital Markets and the stock is now at $38.27, up $0.23 (0.60%) on volume of 420,239 shares traded. The brokerage upgraded the stock to Outperform from Market Perform. Over the last 52 weeks the stock has ranged from a low of $20.38 to a high of $47.29. Overseas Shipholding stock has been showing support around $34.90 and resistance in the $41.92 range. Technical indicators for the stock are neutral and S&P gives OSG a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on OSG the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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