Some Traders Are Very Bullish on Shaw Communications Inc (USA) (SJR) After Forming Bullish Multiple Top

November 7, 2017 - By Darrin Black

The stock of Shaw Communications Inc (USA) (SJR) shows a multiple tops pattern with $23.86 target or 5.00 % above today’s $22.72 share price. The 5 months chart pattern indicates low risk for the $11.35 billion company. It was reported on Nov, 7 by If the $23.86 price target is reached, the company will be worth $567.50M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

About 241,879 shares traded. Shaw Communications Inc (USA) (NYSE:SJR) has risen 13.56% since November 7, 2016 and is uptrending. It has underperformed by 3.14% the S&P500.

Shaw Communications Inc (USA) (NYSE:SJR) Ratings Coverage

Among 4 analysts covering Shaw Comms (NYSE:SJR), 2 have Buy rating, 1 Sell and 1 Hold. Therefore 50% are positive. Shaw Comms has $29 highest and $20 lowest target. $25.50’s average target is 12.24% above currents $22.72 stock price. Shaw Comms had 8 analyst reports since October 20, 2015 according to SRatingsIntel. On Monday, January 9 the stock rating was upgraded by RBC Capital Markets to “Outperform”. Barclays Capital maintained the shares of SJR in report on Friday, October 27 with “Equal-Weight” rating. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, October 23 report. On Thursday, December 17 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. Barclays Capital maintained Shaw Communications Inc (USA) (NYSE:SJR) on Friday, October 23 with “Equal Weight” rating. The stock has “Equal-Weight” rating by Barclays Capital on Tuesday, April 5. The rating was upgraded by Macquarie Research to “Outperform” on Tuesday, October 20. On Thursday, April 6 the stock rating was initiated by Citigroup with “Sell”.

More notable recent Shaw Communications Inc (USA) (NYSE:SJR) news were published by: which released: “Shaw Communications Inc.’s 4th Quarter Shows it Is the Little Engine That Could” on November 02, 2017, also with their article: “Shaw Communications profit more than triples on asset sale gain” published on October 26, 2017, published: “Shaw hits back at Big Three in final arguments for spectrum auction set-asides” on November 03, 2017. More interesting news about Shaw Communications Inc (USA) (NYSE:SJR) were released by: and their article: “Shaw Communications Inc. Is Aggressively Ramping Up Subscriber Growth Initiatives” published on October 23, 2017 as well as‘s news article titled: “Shaw Communications Inc.’s Wireless Business Could Receive Competitive …” with publication date: November 06, 2017.

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