The stock of Companhia de Saneamento Basico (ADR) (NYSE:SBS) hit a new 52-week high and has $13.33 target or 34.00% above today’s $9.95 share price. The 5 months bullish chart indicates low risk for the $6.95B company. The 1-year high was reported on Oct, 19 by Barchart.com. If the $13.33 price target is reached, the company will be worth $2.36 billion 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 157,243 shares traded hands. Companhia de Saneamento Basico (ADR) (NYSE:SBS) has risen 62.91% since March 16, 2016 and is uptrending. It has outperformed by 57.37% the S&P500.
According to Zacks Investment Research, “SABESP provides public water and sewage services to residential, commercial, industrial and governmental customers in the City of Sao Paulo.”
More recent Companhia de Saneamento Basico (ADR) (NYSE:SBS) news were published by: Fool.com which released: “Is Companhia de Saneamento Basico ADR (Sabesp) Destined for Greatness?” on March 16, 2014. Also Quotes.Wsj.com published the news titled: “DOW JONES, A NEWS CORP COMPANY” on February 11, 2011. Fool.com‘s news article titled: “Sabesp Just Can’t Catch a Break From Currency Woes” with publication date: November 18, 2015 was also an interesting one.
SBS Company Profile
Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, incorporated on October 6, 1973, is a water and sewage service provider. The Firm provides water and sewage services to a range of residential, commercial, industrial and governmental clients in over 360 municipalities in the state of Sao Paulo, including the city of Sao Paulo. The Company’s divisions include Water and Sewage. The Firm also supplies treated water on a wholesale basis to approximately 10 municipalities located in the Sao Paulo metropolitan region and urban conurbations.
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