Suntech Power (STP) NewsBite - STP Upgraded By HSBC Securities

Posted: Monday, November 16, 2009 1:12 PM EDT
By: Market Intelligence Center Staff





Suntech Power (STP) was upgraded today by analysts at HSBC Securities and the stock is now at $15.19, up $1.47 (10.71%) on volume of 6,889,616 shares traded. The brokerage upgraded the stock to Neutral from Underweight. Over the last 52 weeks the stock has ranged from a low of $5.09 to a high of $21.38. Suntech Power stock has been showing support around $12.58 and resistance in the $14.46 range. Technical indicators for the stock are neutral and S&P gives STP a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on STP the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 12.50 range. [ABR-Seven Summits Strategic Investments NewsBite]



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Hedged Trade Ideas For STP:

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