After Today’s Gap Up, Is Exchange Income Corporation’s Near-Term Analysis Positive

 After Today's Gap Up, Is Exchange Income Corporation's Near Term Analysis Positive

The stock of Exchange Income Corporation (TSE:EIF) gapped up by $0.01 today and has $61.12 target or 53.00% above today’s $39.95 share price. The 6 months technical chart setup indicates low risk for the $1.19 billion company. The gap was reported on Nov, 11 by Barchart.com. If the $61.12 price target is reached, the company will be worth $630.70 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 71,547 shares traded hands. Exchange Income Corporation (TSE:EIF) has risen 38.91% since April 7, 2016 and is uptrending. It has outperformed by 32.76% 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. Exchange Income Corporation has been the topic of 33 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was upgraded by Raymond James to “Outperform” on Wednesday, August 19. The rating was maintained by Scotia Capital with “Outperform” on Friday, August 14. The company was maintained on Monday, August 31 by Altacorp. The firm earned “Outperform” rating on Thursday, November 26 by National Bank Canada. National Bank Canada maintained Exchange Income Corporation (TSE:EIF) on Friday, August 14 with “Outperform” rating. The stock of Exchange Income Corporation (TSE:EIF) earned “Outperform” rating by Scotia Capital on Wednesday, June 8. The rating was initiated by TD Securities with “Buy” on Thursday, October 29. The company was maintained on Friday, August 14 by EdgeCrest. Laurentian maintained the shares of EIF in a report on Wednesday, June 8 with “Top Pick” rating. As per Friday, August 21, the company rating was initiated by RBC Capital Markets.

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 $1.19 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 23.04 P/E ratio. These services are provided by Calm Air, Perimeter, Keewatin, Bearskin, Custom Helicopters and other aviation supporting businesses.

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