Price Action Don’t Lie: Could Empresa Distribuidora y Cmrz Nrt SA(ADR) Skyrocket Even More? The Stock Just Made Record High

Price Action Don't Lie: Could Empresa Distribuidora y Cmrz Nrt SA(ADR) Skyrocket Even More? The Stock Just Made Record High

The stock of Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) reached all time high today, Oct, 31 and still has $41.30 target or 61.00% above today’s $25.65 share price. This indicates more upside for the $568.14M company. This technical setup was reported by Barchart.com. If the $41.30 PT is reached, the company will be worth $346.57 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 34,393 shares traded hands. Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) has risen 65.23% since March 29, 2016 and is uptrending. It has outperformed by 61.75% 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”. Santander initiated Empresa Distribuidora y Cmrz Nrt SA(ADR) (NYSE:EDN) on Thursday, October 8 with “Hold” rating.

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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