Time to Buy Koninklijke Philips NV (ADR) (PHG) After The Completion of This Bullish Double Top Chart Pattern?

November 15, 2017 - By Ellis Scott

The chart of Koninklijke Philips NV (ADR) (PHG) shows a double top with $39.99 target or 3.00 % above today’s $38.83 share price. The 7 months chart pattern indicates low risk for the $36.24 billion company. It was reported on Nov, 15 by Finviz.com. If the $39.99 price target is reached, the company will be worth $1.09 billion more. Double tops are rare but powerful chart patterns.

About 87,400 shares traded. Koninklijke Philips NV (ADR) (NYSE:PHG) has risen 38.13% since November 15, 2016 and is uptrending. It has outperformed by 21.43% the S&P500.

Koninklijke Philips NV (ADR) (NYSE:PHG) Ratings Coverage

Among 13 analysts covering Koninklijke Philips N.V. (NYSE:PHG), 6 have Buy rating, 0 Sell and 7 Hold. Therefore 46% are positive. Koninklijke Philips N.V. had 14 analyst reports since July 28, 2015 according to SRatingsIntel. UBS upgraded the stock to “Buy” rating in Wednesday, August 10 report. BNP Paribas downgraded the stock to “Neutral” rating in Monday, October 16 report. The company was upgraded on Tuesday, July 28 by Barclays Capital. The stock of Koninklijke Philips NV (ADR) (NYSE:PHG) earned “Outperform” rating by BNP Paribas on Wednesday, May 11. The rating was downgraded by Deutsche Bank to “Hold” on Tuesday, June 20. The firm has “Buy” rating by HSBC given on Wednesday, October 26. The stock of Koninklijke Philips NV (ADR) (NYSE:PHG) earned “Neutral” rating by Nomura on Thursday, August 27. As per Wednesday, September 2, the company rating was upgraded by RBC Capital Markets. As per Monday, December 12, the company rating was downgraded by Morgan Stanley. The stock of Koninklijke Philips NV (ADR) (NYSE:PHG) has “Hold” rating given on Friday, November 27 by ING Group.

More important recent Koninklijke Philips NV (ADR) (NYSE:PHG) news were published by: Marketwatch.com which released: “Philips agrees to sell 80% interest in Lumileds” on December 12, 2016, also Valuewalk.com published article titled: “Philips Splits Off Lighting In Historic Move”, Marketwatch.com published: “39.56” on July 13, 2009. More interesting news about Koninklijke Philips NV (ADR) (NYSE:PHG) was released by: Investorplace.com and their article: “Koninklijke Philips NV (ADR) IPO: World’s Largest Light Maker Plans Spinoff” with publication date: May 03, 2016.

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