Biogen Idec (BIIB) NewsBite - BIIB Upgraded By Jefferies
Nov 02, 2009 (Fresh Brewed Media via COMTEX) --
Companies: Biogen Idec Inc (BIIB),
Biogen Idec (BIIB) was upgraded today by analysts at Jefferies and the stock is now at $43.00, up $0.87 (2.07%) on volume of 2,390,917 shares traded. Jefferies upgraded Biogen today to a Buy from a Hold, and set a $50 price target on the stock. Over the last 52 weeks the stock has ranged from a low of $37.21 in November to a high of $55.34 in April. Biogen Idec stock has been showing support around $41.24 and resistance in the $43.86 range. Technical indicators for the stock are bearish and S&P gives BIIB a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on BIIB the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 35 range.
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Companies: Biogen Idec Inc (BIIB),
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