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C.B. Richard Ellis Upgraded at Goldman

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CB Richard Ellis Group Inc (NYSE: CBG) was graced by the hands at Goldman Sachs this morning who upgraded the stock to the “Conviction Buy List” from “Neutral.” The commercial real estate service firm is shooting higher by over 5.10%, currently trading $15.72 after hitting a new 52-week high earlier in the day.

CB Richard Ellis Group Inc is in full bull mode after it broke through its 52-week high this morning. It is trading above the 50 and 200-day moving averages as well. The stock has broken through the upper Bollinger Band though, which may signal a sideways move for the stock in the near future.

I would trade 1x2 put spreads for a credit in the name.

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