Could ICAP plc Go Down After Reaching 52-Week High?

 Could ICAP plc Go Down After Reaching 52 Week High?

The stock of ICAP plc (LON:IAP) hit a new 52-week high and has GBX 791.68 target or 55.00% above today’s GBX 510.76 share price. The 5 months bullish chart indicates low risk for the GBX 3.40B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the GBX 791.68 price target is reached, the company will be worth GBX 1.87B 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. The stock increased 0.45% or GBX 2.26 on November 11, hitting GBX 510.76. About 1.18M shares traded hands or 0.85% up from the average. ICAP plc (LON:IAP) has risen 9.26% since April 13, 2016 and is uptrending. It has outperformed by 3.12% the S&P500.

ICAP plc (LON:IAP) Ratings Coverage

Out of 12 analysts covering ICAP PLC (LON:IAP), 5 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 42% are positive. ICAP PLC has been the topic of 56 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, January 15 by Macquarie Research. As per Monday, November 9, the company rating was maintained by Credit Suisse. Barclays Capital maintained the shares of IAP in a report on Wednesday, November 11 with “Equal Weight” rating. As per Tuesday, June 21, the company rating was upgraded by Bank of America. The firm has “Neutral” rating given on Wednesday, September 28 by Citigroup. Liberum Capital maintained it with “Buy” rating and GBX 506 target price in Thursday, July 21 report. Citigroup maintained it with “Neutral” rating and GBX 490 target price in Thursday, November 3 report. The stock of ICAP plc (LON:IAP) earned “Overweight” rating by Barclays Capital on Thursday, September 15. On Friday, June 10 the stock rating was maintained by Liberum Capital with “Buy”. BNP Paribas downgraded ICAP plc (LON:IAP) on Tuesday, May 17 to “Neutral” rating.

More recent ICAP plc (LON:IAP) news were published by: Nasdaq.com which released: “ICAP Plc Acquires Abide Financial – Quick Facts” on October 13, 2016. Also Bloomberg.com published the news titled: “ICAP to Become NEX Group to Start Life After Voice Broking” on May 16, 2016. Bloomberg.com‘s news article titled: “ICAP Plans Exit From Voice Broking to Complete Deal With Tullett” with publication date: June 21, 2016 was also an interesting one.

ICAP plc is a markets, technology and risk solutions company. The company has a market cap of 3.40 billion GBP. The Firm provides trade execution platforms and technology workflow/risk mitigation solutions to the global financial markets. It has a 135.27 P/E ratio. The Company’s divisions include Electronic Markets, Post Trade Risk and Information, and Global Broking.

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