The stock of Exchange Income Corporation (TSE:EIF) hit a new 52-week high and has $61.91 target or 54.00% above today’s $40.20 share price. The 6 months bullish chart indicates low risk for the $1.19 billion company. The 1-year high was reported on Nov, 14 by Barchart.com. If the $61.91 price target is reached, the company will be worth $642.60 million 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. About 82,424 shares traded hands. Exchange Income Corporation (TSE:EIF) has risen 41.24% since April 8, 2016 and is uptrending. It has outperformed by 36.26% 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 $37.59 average target is -6.49% below today’s ($40.2) stock price. Exchange Income Corporation has been the topic of 37 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was initiated by RBC Capital Markets on Friday, August 21 with “Outperform”. Laurentian maintained Exchange Income Corporation (TSE:EIF) rating on Wednesday, June 8. Laurentian has “Top Pick” rating and $37.50 price target. Altacorp maintained the stock with “Outperform” rating in Monday, August 31 report. The firm has “Strong Buy” rating given on Friday, August 14 by EdgeCrest. TD Securities initiated Exchange Income Corporation (TSE:EIF) on Thursday, October 29 with “Buy” rating. Scotia Capital maintained Exchange Income Corporation (TSE:EIF) on Wednesday, June 8 with “Outperform” rating. National Bank Canada maintained it with “Outperform” rating and $29 target price in Friday, August 14 report. Raymond James upgraded it to “Outperform” rating and $30 target price in Wednesday, August 19 report. The rating was maintained by National Bank Canada on Thursday, November 26 with “Outperform”. The firm earned “Outperform” rating on Friday, August 14 by Scotia Capital.
More news for Exchange Income Corporation (TSE:EIF) were recently published by: Marketwired.com, which released: “Exchange Income Corporation Announces $60000000 Bought Deal Financing of 5.25 …” on May 16, 2016. Reuters.com‘s article titled: “BRIEF-Exchange Income Corporation reports Q3 earnings per share of C$0.72” and published on November 09, 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 23.19 P/E ratio. These services are provided by Calm Air, Perimeter, Keewatin, Bearskin, Custom Helicopters and other aviation supporting businesses.