The stock of Brambles Limited (ASX:BXB) hit a new 52-week high and has $15.60 target or 30.00% above today’s $12.00 share price. The 8 months bullish chart indicates low risk for the $18.95B company. The 1-year high was reported on Feb, 22 by Barchart.com. If the $15.60 price target is reached, the company will be worth $5.69B more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 8.50% or $0.94 on February 22, hitting $12. About 8.18M shares traded hands or 147.88% up from the average. Brambles Limited (ASX:BXB) has risen 0.73% since July 24, 2015 and is uptrending. It has outperformed by 10.45% the S&P500.
Brambles Limited is an Australia-based supply-chain logistics company. The company has a market cap of $18.95 billion. The Firm operates through three divisions: Pallets, primarily serving the fast-moving consumer goods, fresh produce and beverage industries; Reusable Plastic or Produce Crates , serving the fresh produce and food industry, and comprising the IFCO RPC and CHEP RPC pooling business, and Containers. It has 23.04 P/E ratio.
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