The stock of Veresen Inc (TSE:VSN) gapped up by $0.25 today and has $13.27 target or 9.00% above today’s $12.17 share price. The 9 months technical chart setup indicates low risk for the $3.79B company. The gap was reported on Nov, 30 by Barchart.com. If the $13.27 price target is reached, the company will be worth $341.10M 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 325,523 shares traded hands. Veresen Inc (TSE:VSN) has risen 32.27% since April 26, 2016 and is uptrending. It has outperformed by 27.04% the S&P500.
Veresen Inc (TSE:VSN) Ratings Coverage
Out of 5 analysts covering Veresen Inc Com (TSE:VSN), 4 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 80% are positive. $20 is the highest target while $9 is the lowest. The $12.80 average target is 5.18% above today’s ($12.17) stock price. Veresen Inc Com has been the topic of 21 analyst reports since July 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Veresen Inc (TSE:VSN) rating on Tuesday, December 8. RBC Capital Markets has “Outperform” rating and $18 price target. The stock of Veresen Inc (TSE:VSN) has “Outperform” rating given on Wednesday, October 7 by RBC Capital Markets. The stock of Veresen Inc (TSE:VSN) has “Market Perform” rating given on Thursday, February 4 by BMO Capital Markets. The rating was upgraded by National Bank Canada to “Outperform” on Wednesday, November 2. As per Thursday, August 6, the company rating was maintained by Scotia Capital. The firm earned “Outperform” rating on Wednesday, November 2 by Scotia Capital. As per Wednesday, August 12, the company rating was upgraded by Canaccord Genuity. The stock of Veresen Inc (TSE:VSN) has “Outperform” rating given on Wednesday, November 2 by RBC Capital Markets.
More notable recent Veresen Inc (TSE:VSN) news were published by: Marketwatch.com which released: “Veresen Inc.” on May 23, 2011, also Business.Financialpost.com with their article: “Veresen Inc to sell power division, faces pushback on West Coast LNG development” published on August 04, 2016, Fool.ca published: “Veresen Inc. Investors Are Gambling on its 9.4% Dividend” on November 10, 2015. More interesting news about Veresen Inc (TSE:VSN) were released by: Business.Financialpost.com and their article: “‘It’s a high-risk game’: Veresen Inc puts everything on the line with Jordan …” published on April 16, 2015 as well as Business.Financialpost.com‘s news article titled: “Veresen Inc re-applies for LNG approvals in U.S. after securing pipeline …” with publication date: April 11, 2016.
Veresen Inc. is an energy infrastructure company. The company has a market cap of $3.79 billion. The Company’s divisions include Pipelines, Midstream, Power and Corporate. It has a 75.64 P/E ratio. The Company’s pipeline business consists of interests in over two pipeline systems: the Alliance Pipeline, which is over 3,000 kilometers dense phase pipeline delivering natural gas and midstreams from Western Canada to the Midwest United States, and the Alberta Ethane Gathering System, an ethane pipeline system.
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