The stock of Exchange Income Corporation (TSE:EIF) gapped up by $0.01 today and has $49.16 target or 23.00% above today’s $39.97 share price. The 9 months technical chart setup indicates low risk for the $1.19B company. The gap was reported on Nov, 11 by Barchart.com. If the $49.16 price target is reached, the company will be worth $273.70M 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 115,024 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. Raymond James upgraded it to “Outperform” rating and $30 target price in Wednesday, August 19 report. Laurentian maintained the shares of EIF in a report on Wednesday, June 8 with “Top Pick” rating. RBC Capital Markets initiated the shares of EIF in a report on Friday, August 21 with “Outperform” rating. The rating was maintained by Altacorp with “Outperform” on Monday, August 31. As per Wednesday, June 8, the company rating was maintained by Scotia Capital. The firm has “Strong Buy” rating by EdgeCrest given on Friday, August 14. The rating was initiated by TD Securities on Thursday, October 29 with “Buy”. The stock of Exchange Income Corporation (TSE:EIF) earned “Outperform” rating by National Bank Canada on Friday, August 14. The stock of Exchange Income Corporation (TSE:EIF) earned “Outperform” rating by National Bank Canada on Thursday, November 26. Scotia Capital maintained the stock with “Outperform” rating in Friday, August 14 report.
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 23.06 P/E ratio. These services are provided by Calm Air, Perimeter, Keewatin, Bearskin, Custom Helicopters and other aviation supporting businesses.
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