The stock of CYBG PLC (LON:CYBG) gapped up by GBX 2.2 today and has GBX 302.51 target or 8.00% above today’s GBX 280.10 share price. The 5 months technical chart setup indicates low risk for the GBX 2.47B company. The gap was reported on Nov, 29 by Barchart.com. If the GBX 302.51 price target is reached, the company will be worth GBX 197.60M 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 0.18% or GBX 0.5 on November 29, hitting GBX 280.1. About 2.48M shares traded hands or 56.96% up from the average. CYBG PLC (LON:CYBG) has risen 26.04% since April 29, 2016 and is uptrending. It has outperformed by 20.78% 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. As per Friday, July 29, the company rating was maintained by JP Morgan. The firm has “Neutral” rating by Macquarie Research given on Thursday, October 27. The rating was maintained by JP Morgan with “Underweight” on Tuesday, July 26. The stock of CYBG PLC (LON:CYBG) has “Neutral” rating given on Thursday, May 12 by JP Morgan. The rating was maintained by RBC Capital Markets with “Underperform” on Tuesday, October 4. RBC Capital Markets maintained it with “Outperform” rating and GBX 340 target price in Wednesday, May 25 report. Macquarie Research maintained it with “Neutral” rating and GBX 270 target price in Wednesday, November 23 report. The rating was maintained by Credit Suisse with “Outperform” on Tuesday, October 25. On Wednesday, September 14 the stock rating was maintained by JP Morgan with “Underweight”. The company was maintained on Monday, September 12 by JP Morgan.
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 2.47 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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