ITV plc : Continuation of the bullish trend
By Florian Girard
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 260.62 | GBX 0 | GBX 253 | -100% |
Many investment banks recently raised their target price on the stock. Consensus’ EPS estimates were as well upward revised. Operating margin rate has constantly increased over the last 6 fiscal years. Moreover, the EBITDA is expected to increase of 13% after a 17% rise in 2014. Finally, the share has still a potential to reach the consensus average price target.
Technically, the security shows a bullish configuration on all time scales. Moving averages are well oriented. The recent gap is very likely to give the share a new momentum. Investors could take a long position at current prices and target the GBp 274.90 long term resistance area. A stop loss should be set at GBp 253.