The stock of George Weston Limited (TSE:WN) gapped up by $0.54 today and has $168.16 target or 59.00% above today’s $105.76 share price. The 9 months technical chart setup indicates low risk for the $13.65B company. The gap was reported on Nov, 16 by Barchart.com. If the $168.16 price target is reached, the company will be worth $8.05B 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 51,050 shares traded hands. George Weston Limited (TSE:WN) has declined 6.97% since April 12, 2016 and is downtrending. It has underperformed by 11.66% the S&P500.
George Weston Limited (TSE:WN) Ratings Coverage
Out of 5 analysts covering George Weston Limited (TSE:WN), 3 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 60% are positive. $135 is the highest target while $115 is the lowest. The $123.80 average target is 17.06% above today’s ($105.76) stock price. George Weston Limited has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The stock of George Weston Limited (TSE:WN) has “Outperform” rating given on Friday, July 29 by Scotia Capital. The firm has “Target Price” rating by IBC given on Wednesday, November 25. On Wednesday, November 2 the stock rating was maintained by BMO Capital Markets with “Market Perform”.
More notable recent George Weston Limited (TSE:WN) news were published by: Forbes.com which released: “George Weston Limited Enters Oversold Territory (WN)” on November 09, 2016, also Business.Financialpost.com with their article: “W. Galen Weston steps down as executive chairman of George Weston Ltd and …” published on September 14, 2016, Theglobeandmail.com published: “The Globe and Mail” on April 05, 2010. More interesting news about George Weston Limited (TSE:WN) were released by: Forbes.com and their article: “George Weston Limited’s Preferred Shares Series III Goes Ex-Dividend Soon” published on December 09, 2013 as well as Seekingalpha.com‘s news article titled: “George Weston Limited’s (WNGRF) CEO Pavi Binning on Q2 2016 Results – Earnings …” with publication date: July 29, 2016.
George Weston Ltd is a holding company that is engaged in food processing and distribution business. The company has a market cap of $13.65 billion. It operates through two divisions: Weston Foods and Loblaw, and holds cash, short term investments and a direct investment in Choice Properties Real Estate Investment Trust . It has a 30.02 P/E ratio. The Loblaw segment, which is operated by Loblaw Companies Limited includes retail businesses, a bank and Choice Properties.
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