The stock of WSP Global Inc (TSE:WSP) gapped up by $0.1 today and has $51.30 target or 7.00% above today’s $47.94 share price. The 8 months technical chart setup indicates low risk for the $4.97 billion company. The gap was reported on Dec, 1 by Barchart.com. If the $51.30 price target is reached, the company will be worth $347.90M 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 89,449 shares traded hands. WSP Global Inc (TSE:WSP) has risen 13.27% since April 27, 2016 and is uptrending. It has outperformed by 7.34% the S&P500.
WSP Global Inc (TSE:WSP) Ratings Coverage
Out of 7 analysts covering WSP Global Inc (TSE:WSP), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $55 is the highest target while $40 is the lowest. The $48.13 average target is 0.40% above today’s ($47.94) stock price. WSP Global Inc has been the topic of 31 analyst reports since August 6, 2015 according to StockzIntelligence Inc. TD Securities maintained WSP Global Inc (TSE:WSP) rating on Thursday, August 6. TD Securities has “Buy” rating and $54 price target. The stock has “Buy” rating given by Desjardins Securities on Thursday, September 17. Scotia Capital maintained the shares of WSP in a report on Friday, October 30 with “Sector Outperform” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, September 19 report. National Bank Canada maintained it with “Outperform” rating and $51 target price in Thursday, November 26 report. National Bank Canada maintained the stock with “Outperform” rating in Monday, May 2 report. The firm earned “Sector Perform” rating on Monday, November 28 by National Bank Canada. The firm has “Buy” rating by TD Securities given on Wednesday, September 21. The company was downgraded on Wednesday, May 11 by IBC. On Wednesday, November 9 the stock rating was maintained by Scotia Capital with “Outperform”.
Another recent and important WSP Global Inc (TSE:WSP) news was published by Theglobeandmail.com which published an article titled: “The Globe and Mail” on January 02, 2014.
WSP Global Inc. is a professional services company. The company has a market cap of $4.97 billion. The Company’s divisions are Canada, Americas , EMEIA (Europe, Middle East, India and Africa) and APAC (Asia Pacific, including primarily Asia and Australia). It has a 30.48 P/E ratio. It offers services in project delivery and consulting.
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