George Weston Limited Gaps Up; Strong Momentum for Buyers

 George Weston Limited Gaps Up; Strong Momentum for Buyers

The stock of George Weston Limited (TSE:WN) gapped up by $0.02 today and has $119.57 target or 7.00% above today’s $111.75 share price. The 5 months technical chart setup indicates low risk for the $14.41 billion company. The gap was reported on Nov, 29 by If the $119.57 price target is reached, the company will be worth $1.01 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 20,528 shares traded hands. George Weston Limited (TSE:WN) has risen 1.26% since April 25, 2016 and is uptrending. It has underperformed by 3.99% the S&P500.

George Weston Limited (TSE:WN) Ratings Coverage

Out of 4 analysts covering George Weston Limited (TSE:WN), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $144 is the highest target while $115 is the lowest. The $127.40 average target is 14.00% above today’s ($111.75) stock price. George Weston Limited has been the topic of 18 analyst reports since July 29, 2015 according to StockzIntelligence Inc. BMO Capital Markets maintained the stock with “Market Perform” rating in Wednesday, November 2 report. The rating was maintained by Scotia Capital with “Outperform” on Tuesday, November 22. The stock has “Target Price” rating given by IBC on Wednesday, November 25. On Friday, July 29 the stock rating was maintained by Scotia Capital with “Outperform”.

More recent George Weston Limited (TSE:WN) news were published by: which released: “George Weston Limited Enters Oversold Territory (WN)” on November 09, 2016. Also published the news titled: “W. Galen Weston steps down as executive chairman of George Weston Ltd and …” on September 14, 2016.‘s news article titled: “George Weston Limited’s (WNGRF) CEO Pavi Binning on Q2 2016 Results – Earnings …” with publication date: July 29, 2016 was also an interesting one.

George Weston Ltd is a holding company that is engaged in food processing and distribution business. The company has a market cap of $14.41 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 25.73 P/E ratio. The Loblaw segment, which is operated by Loblaw Companies Limited includes retail businesses, a bank and Choice Properties.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment