The stock of Exchange Income Corporation (TSE:EIF) gapped up by $0.81 today and has $47.24 target or 22.00% above today’s $38.72 share price. The 5 months technical chart setup indicates low risk for the $1.11B company. The gap was reported on Nov, 10 by Barchart.com. If the $47.24 price target is reached, the company will be worth $244.20 million 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 46,467 shares traded hands. Exchange Income Corporation (TSE:EIF) has risen 34.68% since April 6, 2016 and is uptrending. It has outperformed by 29.03% the S&P500.
Exchange Income Corporation (TSE:EIF) Ratings Coverage
Out of 7 analysts covering Exchange Income Corporation (TSE:EIF), 6 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 86% are positive. $42 is the highest target while $27 is the lowest. The $36.45 average target is -5.86% below today’s ($38.72) stock price. Exchange Income Corporation has been the topic of 33 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock of Exchange Income Corporation (TSE:EIF) has “Top Pick” rating given on Wednesday, June 8 by Laurentian. Scotia Capital maintained the stock with “Outperform” rating in Friday, August 14 report. The firm earned “Outperform” rating on Friday, August 21 by RBC Capital Markets. The rating was initiated by TD Securities on Thursday, October 29 with “Buy”. The stock of Exchange Income Corporation (TSE:EIF) has “Outperform” rating given on Wednesday, August 19 by Raymond James. The firm has “Outperform” rating by National Bank Canada given on Thursday, November 26. The stock of Exchange Income Corporation (TSE:EIF) has “Outperform” rating given on Wednesday, June 8 by Scotia Capital. As per Friday, August 14, the company rating was maintained by EdgeCrest. Altacorp maintained it with “Outperform” rating and $33 target price in Monday, August 31 report. National Bank Canada maintained the shares of EIF in a report on Friday, August 14 with “Outperform” rating.
More news for Exchange Income Corporation (TSE:EIF) were recently published by: Reuters.com, which released: “BRIEF-Exchange Income Corporation reports Q3 earnings per share of C$0.72” on November 09, 2016. Marketwired.com‘s article titled: “Exchange Income Corporation Announces $60000000 Bought Deal Financing of 5.25 …” and published on May 16, 2016 is yet another important article.
Exchange Income Corporation is focused on opportunities in two sectors: aviation services and equipment, and manufacturing. The company has a market cap of $1.11 billion. The Firm operates through two divisions: Aviation, which provides scheduled airline and charter service and emergency medical services to communities located in Manitoba, Ontario and Nunavut. It has a 22.33 P/E ratio. These services are provided by Calm Air, Perimeter, Keewatin, Bearskin, Custom Helicopters and other aviation supporting businesses.
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