The stock of Capital Power Corp (TSE:CPX) gapped up by $1.39 today and has $24.55 target or 7.00% above today’s $22.94 share price. The 9 months technical chart setup indicates low risk for the $2.25B company. The gap was reported on Nov, 25 by Barchart.com. If the $24.55 price target is reached, the company will be worth $157.50 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%. About 1.27 million shares traded hands or 365.48% up from the average. Capital Power Corp (TSE:CPX) has risen 18.83% since April 21, 2016 and is uptrending. It has outperformed by 13.42% the S&P500.
Capital Power Corp (TSE:CPX) Ratings Coverage
Out of 5 analysts covering Capital Power Corporation (TSE:CPX), 0 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 0 are positive. $26 is the highest target while $18 is the lowest. The $21 average target is -8.46% below today’s ($22.94) stock price. Capital Power Corporation has been the topic of 21 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets on Tuesday, October 25 with “Sector Perform”. On Tuesday, October 25 the stock rating was maintained by Scotia Capital with “Underperform”. The firm earned “Target Price” rating on Wednesday, November 25 by IBC. The firm has “Sector Perform” rating by Scotia Capital given on Tuesday, July 28.
More recent Capital Power Corp (TSE:CPX) news were published by: Business.Financialpost.com which released: “Capital Power Corp downgraded despite strong Q3” on October 25, 2016. Also Business.Financialpost.com published the news titled: “Capital Power upgraded on Alberta compensation for stranded coal assets” on November 25, 2016. Cbc.ca‘s news article titled: “Capital Power ditches deal to buy power of Sundance coal-fired plant” with publication date: March 24, 2016 was also an interesting one.
Capital Power Corp is a power producing company. The company has a market cap of $2.25 billion. The Firm develops, acquires, operates and optimizes power generation from a range of energy sources. It has a 22.9 P/E ratio. It operates through the operation of electrical generation facilities within Canada (Alberta, British Columbia and Ontario) and in the United States (North Carolina and New Mexico) segment.
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