The stock of Domtar Corp (TSE:UFS) gapped up by $0.46 today and has $70.50 target or 39.00% above today’s $50.72 share price. The 8 months technical chart setup indicates low risk for the $3.25B company. The gap was reported on Nov, 14 by Barchart.com. If the $70.50 price target is reached, the company will be worth $1.27B 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 23,863 shares traded hands. Domtar Corp (TSE:UFS) has declined 5.46% since April 8, 2016 and is downtrending. It has underperformed by 10.44% the S&P500.
Domtar Corp (TSE:UFS) Ratings Coverage
Out of 2 analysts covering Domtar Corp (TSE:UFS), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Domtar Corp has been the topic of 3 analyst reports since April 29, 2016 according to StockzIntelligence Inc. The rating was maintained by TD Securities with “Hold” on Friday, October 28. The stock of Domtar Corp (TSE:UFS) has “Outperform” rating given on Tuesday, October 11 by RBC Capital Markets. The company was maintained on Friday, April 29 by RBC Capital Markets.
More important recent Domtar Corp (TSE:UFS) news were published by: Marketwatch.com which released: “Domtar downgraded to underperform from neutral at DA Davidson” on December 21, 2009, also Quotes.Wsj.com published article titled: “News Domtar Corp.UFS”, Bizjournals.com published: “Domtar to cut 100 jobs from eastern N.C. pulp plant” on September 30, 2016. More interesting news about Domtar Corp (TSE:UFS) was released by: Bizjournals.com and their article: “International sales vital to Fort Mill’s Domtar Corp.” with publication date: September 15, 2016.
Domtar Corporation designs, manufactures, markets and distributes a range of fiber products, including communication papers, specialty and packaging papers and absorbent hygiene products. The company has a market cap of $3.25 billion. The Firm operates through two business divisions: Pulp and Paper, and Personal Care. It has a 17.07 P/E ratio. The Company’s Pulp and Paper segment is engaged in the designing, manufacturing, marketing and distribution of communication, specialty and packaging papers, as well as softwood, fluff and hardwood market pulp.
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