Noteworthy Price Action: It Seems Empresa Distribuidora y Cmrz Nrt SA(ADR) Will Go Up. Just Reaches 52-Week High

Noteworthy Price Action: It Seems Empresa Distribuidora y Cmrz Nrt SA(ADR) Will Go Up. Just Reaches 52 Week High

The stock of Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) hit a new 52-week high and has $59.17 target or 165.00% above today’s $22.33 share price. The 9 months bullish chart indicates low risk for the $497.20M company. The 1-year high was reported on Oct, 19 by If the $59.17 price target is reached, the company will be worth $820.38M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 49,514 shares traded hands. Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) has risen 41.99% since March 16, 2016 and is uptrending. It has outperformed by 36.45% the S&P500.

Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) Ratings Coverage

Out of 2 analysts covering Edenor SA (NYSE:EDN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Edenor SA has been the topic of 2 analyst reports since October 8, 2015 according to StockzIntelligence Inc. On Wednesday, October 5 the stock rating was initiated by Morgan Stanley with “Overweight”. The firm earned “Hold” rating on Thursday, October 8 by Santander.

According to Zacks Investment Research, “EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. (Edenor) is the largest electricity distribution company in Argentina in terms of number of customers and electricity sold (both in GWh and Pesos). Through a concession, Edenor distributes electricity exclusively to the northwestern zone of the greater Buenos Aires metropolitan area and the northern part of the city of Buenos Aires, which has a population of approximately 7 million people and an area of 4,637 sq. km.”

EDN Company Profile

Empresa Distribuidora y Comercializadora Norte S.A., incorporated on August 3, 1992, is a public service company. The Firm is engaged in electricity distribution in Argentina. The Firm holds a concession to distribute electricity to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires. The Firm has the right to distribute electricity within its concession area for a period of approximately 95 years. The Company’s concession area of approximately 4,637 square kilometers is divided into three operating territories: Region I, which consists of over 251 square kilometers; Region II, which consists of approximately 1,761 square kilometers, and Region III, which consists of over 2,625 square kilometers. The Company’s Region I operating territory includes Ciudad de Buenos Aires, San Isidro, Vicente Lopez, San Martin and Tres de Febrero districts. The Company’s Region II operating territory includes La Matanza, Moron, Hurlingham, Ituzaingo, Merlo, Marcos Paz and Gral. Las Heras districts. The Company’s Region III operating territory includes Pilar, Escobar, Tigre, San Fernando, San Miguel, Malvinas Argentinas, Jose C. Paz, Moreno and Gral. Rodriguez districts. The Firm serves residential and small commercial customers, medium commercial customers, industrial clients and public lighting customers.

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