The stock of George Weston Limited (TSE:WN) gapped up by $0.54 today and has $135.49 target or 28.00% above today’s $105.85 share price. The 7 months technical chart setup indicates low risk for the $13.67B company. The gap was reported on Nov, 16 by Barchart.com. If the $135.49 price target is reached, the company will be worth $3.83 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 94,380 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 16.96% above today’s ($105.85) stock price. George Weston Limited has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained George Weston Limited (TSE:WN) on Wednesday, November 2 with “Market Perform” rating. The firm earned “Target Price” rating on Wednesday, November 25 by IBC. The firm has “Outperform” rating by Scotia Capital given on Friday, July 29.
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 $13.67 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 30.05 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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