World Fuel Services Corporation (NYSE: INT) — This fuel products company is a leading global supplier of marine, aviation and land fuel products and logistics services.
Standard and Poor’s chose INT as its stock of the week in late October saying, “In our view, World Fuel’s financial stability and leading position will allow for expansion opportunities.” They ranked it a “five-star buy” with a target of $34.
The Trade of the Day picked it up on Oct. 29, at $27.75 saying, “Technically INT is trading within a broad triangle with a breakout possible at over $28. Volume is increasing and the stochastic issued a buy signal several days ago. A breakout would give a technical target of $33.”
INT did much better than that, running to over $40 last week. S&P has increased their target to $42, but this stock now has a very steep angle of support and is therefore subject to profit-taking. Long-term holders may wish to protect their gains by selling calls, but traders should consider taking profits. Read more…