The stock of SSE PLC (LON:SSE) gapped up by GBX 1 today and has GBX 1547.90 target or 6.00% above today’s GBX 1460.28 share price. The 7 months technical chart setup indicates low risk for the GBX 14.82B company. The gap was reported on Nov, 23 by Barchart.com. If the GBX 1547.90 price target is reached, the company will be worth GBX 889.20 million 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%. The stock decreased 0.12% or GBX 1.72 on November 23, hitting GBX 1460.28. About 3.68 million shares traded hands or 18.33% up from the average. SSE PLC (LON:SSE) has declined 4.88% since April 27, 2016 and is downtrending. It has underperformed by 10.21% the S&P500.
SSE PLC (LON:SSE) Ratings Coverage
Out of 22 analysts covering SSE PLC (LON:SSE), 6 rate it a “Buy”, 4 “Sell”, while 12 “Hold”. This means 27% are positive. GBX 1800 is the highest target while GBX 1150 is the lowest. The GBX 1534.89 average target is 5.11% above today’s (GBX 1460.28) stock price. SSE PLC has been the topic of 129 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Underperform” on Wednesday, March 16. The rating was maintained by BNP Paribas with “Outperform” on Friday, March 11. The firm has “Hold” rating given on Thursday, September 22 by Jefferies. Morgan Stanley maintained the stock with “Overweight” rating in Monday, October 5 report. The stock has “Outperform” rating given by Macquarie Research on Thursday, January 21. Credit Suisse maintained it with “Neutral” rating and GBX 1450 target price in Friday, February 19 report. The firm has “Overwt/Cautious” rating by Morgan Stanley given on Wednesday, November 11. As per Thursday, February 4, the company rating was maintained by Bernstein. The stock of SSE PLC (LON:SSE) has “Hold” rating given on Thursday, October 22 by Deutsche Bank. As per Thursday, May 12, the company rating was maintained by Credit Suisse.
SSE plc is engaged in producing, distributing and supplying electricity and gas, as well as other energy-related services to homes and businesses in Great Britain and Ireland. The company has a market cap of 14.82 billion GBP. The Company’s divisions include Networks, which consists of electricity distribution, electricity transmission and gas distribution; Retail, which consists of energy supply, enterprise and energy-related services, and Wholesale, which consists of energy portfolio management and electricity generation, gas storage and gas production. It has a 19.79 P/E ratio. The Networks segment is engaged in the distribution of electricity to customer premises in the North of Scotland and the South of England.
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