Manitoba Telecom Services Inc Stock Price Gaps Up Today; Buyers Are Thriving

 Manitoba Telecom Services Inc Stock Price Gaps Up Today; Buyers Are Thriving

The stock of Manitoba Telecom Services Inc (TSE:MBT) gapped up by $0.03 today and has $54.16 target or 45.00% above today’s $37.35 share price. The 6 months technical chart setup indicates low risk for the $2.78B company. The gap was reported on Nov, 15 by Barchart.com. If the $54.16 price target is reached, the company will be worth $1.25 billion 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 86,439 shares traded hands. Manitoba Telecom Services Inc (TSE:MBT) has risen 13.87% since April 11, 2016 and is uptrending. It has outperformed by 9.94% the S&P500.

Manitoba Telecom Services Inc (TSE:MBT) Ratings Coverage

Out of 7 analysts covering Manitoba Telecom Services (TSE:MBT), 3 rate it a “Buy”, 2 “Sell”, while 2 “Hold”. This means 43% are positive. $40 is the highest target while $26 is the lowest. The $31.25 average target is -16.33% below today’s ($37.35) stock price. Manitoba Telecom Services has been the topic of 17 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The rating was maintained by National Bank Canada with “Outperform” on Thursday, November 26. On Tuesday, August 4 the stock rating was downgraded by Canaccord Genuity to “Sell”. The firm earned “Outperform” rating on Thursday, November 5 by National Bank Canada.

More notable recent Manitoba Telecom Services Inc (TSE:MBT) news were published by: Business.Financialpost.com which released: “BCE Inc $3.9 billion deal for Manitoba Telecom Services will test federal …” on May 02, 2016, also Business.Financialpost.com with their article: “Why BCE Inc should buy Manitoba Telecom Services Inc” published on September 02, 2015, Business.Financialpost.com published: “Is Manitoba Telecom Services Inc a takeover target?” on December 14, 2015. More interesting news about Manitoba Telecom Services Inc (TSE:MBT) were released by: Cbc.ca and their article: “Manitoba Telecom Services sells Allstream business for $465M” published on November 23, 2015 as well as Cbc.ca‘s news article titled: “Court approves BCE friendly takeover of Manitoba Telecom Services” with publication date: June 29, 2016.

Manitoba Telecom Services Inc. is an information and communications technology provider. The company has a market cap of $2.78 billion. The Firm provides an array of business solutions, including information solutions and business telecommunications services. It has a 66.08 P/E ratio. These solutions include wireless, Internet Protocol (IP) networking, phone services, security services, technology infrastructure, application development, managed services, networking services and unified cloud services provided by MTS, MTS Data Centres, AAA Security (AAA), EPIC Information Solutions (EPIC) and The Technology Consortium (TTC).

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