How Analysts Feel About Calfrac Well Services Ltd After Today’s Gap Up?

 How Analysts Feel About Calfrac Well Services Ltd After Today's Gap Up?

The stock of Calfrac Well Services Ltd (TSE:CFW) gapped up by $0.23 today and has $3.52 target or 9.00% above today’s $3.23 share price. The 6 months technical chart setup indicates low risk for the $355.84M company. The gap was reported on Nov, 30 by Barchart.com. If the $3.52 price target is reached, the company will be worth $32.03M 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 412,397 shares traded hands. Calfrac Well Services Ltd (TSE:CFW) has risen 53.23% since April 26, 2016 and is uptrending. It has outperformed by 48.00% the S&P500.

Calfrac Well Services Ltd (TSE:CFW) Ratings Coverage

Out of 10 analysts covering Calfrac Well Services Ltd. (TSE:CFW), 1 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 10% are positive. $10 is the highest target while $1.25 is the lowest. The $3.63 average target is 12.38% above today’s ($3.23) stock price. Calfrac Well Services Ltd. has been the topic of 55 analyst reports since July 21, 2015 according to StockzIntelligence Inc. The stock of Calfrac Well Services Ltd (TSE:CFW) earned “Outperform” rating by IBC on Tuesday, August 25. The firm earned “Sector Perform” rating on Tuesday, July 21 by Scotia Capital. Scotia Capital maintained the shares of CFW in a report on Friday, July 29 with “Underperform” rating. IBC downgraded the shares of CFW in a report on Tuesday, February 9 to “Sector Performer” rating. RBC Capital Markets maintained Calfrac Well Services Ltd (TSE:CFW) on Friday, April 29 with “Sector Perform” rating. As per Tuesday, January 12, the company rating was downgraded by Simmons & Co. The firm has “Sell” rating given on Thursday, February 25 by Paradigm Research. The company was downgraded on Wednesday, January 6 by TD Securities. TD Securities maintained it with “Hold” rating and $3 target price in Thursday, November 24 report. The company was maintained on Friday, October 28 by Scotia Capital.

Calfrac Well Services Ltd. is a provider of specialized oilfield services. The company has a market cap of $355.84 million. The Firm operates through four geographical divisions: Canada, the United States, Russia and Latin America. It currently has negative earnings. The Company’s services include hydraulic fracturing, coiled tubing, cementing and other well stimulation services.

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