General Electric (GE) NewsBite - GE Rises on Broker Upgrade

Posted: Friday, November 06, 2009 9:50 AM EDT

General Electric (NYSE: GE) opened at $14.98. So far today, the stock has hit a low of $14.83 and a high of $15.08. GE is now trading at $15.07, up $0.64 (4.44%). Over the last 52 weeks the stock has ranged from a low of $5.73 to a high of $19.75. GE was upgraded at Oppenheimer this morning to Outperform from Perform. In a note to investors, the analyst who upped the stock said GE's financial portfolio is stabilizing and the company's core industrial business is holding up relatively well. The analyst also said GE's stock price is attractive at the moment. Technical indicators for the stock are neutral and S&P gives GE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GE the stock seems like it could be a candidate for a March out-of-the-money bull-put credit spread below the 12 range. [ABR-Seven Summits Strategic Investments NewsBite]

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