Agrium Inc. Gap Up Today Means Lower Risks Forward

The stock of Agrium Inc. (TSE:AGU) gapped up by $0.08 today and has $156.71 target or 34.00% above today’s $116.95 share price. The 8 months technical chart setup indicates low risk for the $16.37B company. The gap was reported on Feb, 26 by If the $156.71 price target is reached, the company will be worth $5.57 billion 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%. The stock is up 2.43% or $2.77 after the news, hitting $116.95 per share. About 211,111 shares traded hands. Agrium Inc. (TSE:AGU) has declined 15.96% since July 21, 2015 and is downtrending. It has underperformed by 8.28% the S&P500.

Out of 5 analysts covering Agrium Inc. (TSE:AGU), 3 rate it “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $95 is the highest target while $83.41 is the lowest. The $90.57 average target is 1.33% above today’s ($116.95) stock price. Agrium Inc. was the topic in 3 analyst reports since July 29, 2015 according to StockzIntelligence Inc.

Agrium Inc. is a Canada-based producer and marketer of nutrients for agricultural and industrial markets. The company has a market cap of $16.37 billion. Agrium is a retailer of agricultural services and products in the United States, Canada, Australia, Argentina, Brazil, Chile and Uruguay and a multi-national producer and wholesale marketer of nutrients for agricultural and industrial markets. It has 12.4 P/E ratio. The Firm operates through its two business units: Retail and Wholesale.

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