The stock of CYBG PLC (LON:CYBG) gapped up by GBX 2.2 today and has GBX 298.52 target or 6.00% above today’s GBX 281.62 share price. The 9 months technical chart setup indicates low risk for the GBX 2.48 billion company. The gap was reported on Nov, 28 by Barchart.com. If the GBX 298.52 price target is reached, the company will be worth GBX 148.80M 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 increased 3.65% or GBX 9.92 on November 28, hitting GBX 281.62. About 2.27 million shares traded hands or 43.67% up from the average. CYBG PLC (LON:CYBG) has risen 26.54% since April 29, 2016 and is uptrending. It has outperformed by 20.52% the S&P500.
CYBG PLC (LON:CYBG) Ratings Coverage
Out of 8 analysts covering CYBG Plc (LON:CYBG), 2 rate it a “Buy”, 5 “Sell”, while 1 “Hold”. This means 25% are positive. CYBG Plc has been the topic of 26 analyst reports since March 14, 2016 according to StockzIntelligence Inc. The stock has “Underweight” rating given by JP Morgan on Wednesday, November 23. RBC Capital Markets maintained the shares of CYBG in a report on Wednesday, September 14 with “Underperform” rating. The rating was maintained by Numis Securities with “Reduce” on Tuesday, November 22. The firm has “Neutral” rating by Macquarie Research given on Thursday, October 27. The stock of CYBG PLC (LON:CYBG) earned “Underperform” rating by RBC Capital Markets on Monday, August 15. Citigroup maintained the stock with “Sell” rating in Friday, September 23 report. The firm has “Underweight” rating by JP Morgan given on Wednesday, September 14. The stock has “Underweight” rating given by JP Morgan on Monday, September 12. The rating was upgraded by Goldman Sachs to “Buy” on Monday, November 28. On Friday, July 29 the stock rating was maintained by JP Morgan with “Underweight”.
Another recent and important CYBG PLC (LON:CYBG) news was published by Moodys.com which published an article titled: “Moody’s assigns a Ba1 rating to CYBG PLC’s Tier 2 notes” on September 16, 2016.
CYBG PLC is a United Kingdom-based company, which intends to be the holding firm for CYB Investments Limited and Clydesdale Bank PLC (Clydesdale Bank). The company has a market cap of 2.48 billion GBP. The Firm will own National Australia Bank Limited’s Clydesdale and Yorkshire Bank activities (the Clydesdale Bank business). It currently has negative earnings. Clydesdale Bank provides the United Kingdom retail and small and medium enterprises (SME) banking services.
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