Schering-Plough opened at $21.8. So far today the stock has hit a low of $21.57 and a high of $21.95. SGP is now trading at $21.90, up 0.52 (2.43%). After hitting a one-year high of $33.40 in October, the stock hit a one-year low of $13.83 in April. SGP shares are rising this morning after an analyst at Lehman Brothers upgraded the stock to "Overweight" from "Equal weight," and lifted his price target to $27 per share from $22. The analyst added that he thinks SGP will see improving sales of its cholesterol drugs, and should benefit from a limited amount of expiring drug patents over the next five years. Technical indicators for SGP are bullish and steady, while S&P gives the stock a neutral 3 Stars (out of 5) Hold rating. If you’re looking for a hedged play on this stock, consider a November bull-put credit spread below the $17.50 range. SGP hasn't been below 17.50 since April. The stock could lose up to 20.0% before this trade runs into trouble.
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