The stock of Thomson Reuters Corp (TSE:TRI) gapped up by $0.02 today and has $90.40 target or 61.00% above today’s $56.15 share price. The 5 months technical chart setup indicates low risk for the $41.76B company. The gap was reported on Nov, 10 by Barchart.com. If the $90.40 price target is reached, the company will be worth $25.47B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 222,437 shares traded hands. Thomson Reuters Corp (TSE:TRI) has risen 6.32% since April 6, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
Thomson Reuters Corp (TSE:TRI) Ratings Coverage
Out of 5 analysts covering Thomson Reuters Corporation (TSE:TRI), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $62.50 is the highest target while $43 is the lowest. The $51.60 average target is -8.10% below today’s ($56.15) stock price. Thomson Reuters Corporation has been the topic of 11 analyst reports since July 31, 2015 according to StockzIntelligence Inc. TD Securities upgraded it to “Buy” rating and $57 target price in Friday, July 31 report. RBC Capital Markets maintained it with “Sector Perform” rating and $56 target price in Wednesday, November 2 report. The rating was maintained by TD Securities on Friday, September 16 with “Hold”. The stock of Thomson Reuters Corp (TSE:TRI) has “Hold” rating given on Wednesday, November 2 by TD Securities.
More news for Thomson Reuters Corp (TSE:TRI) were recently published by: Wsj.com, which released: “Thomson Reuters to Cut 2000 Jobs in Restructuring” on November 01, 2016. Forbes.com‘s article titled: “Short Interest In Thomson Reuters Jumps 27.6%” and published on October 26, 2016 is yet another important article.
Thomson Reuters Corporation is a provider of news and information for professional markets. The company has a market cap of $41.76 billion.
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