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Home / Momentum / Inchcape (INCH.L) 12-12-19

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Inchcape (INCH.L) 12-12-19

Inchcape (INCH.L) has continued to rally strongly, setting new recent highs. Will the momentum persist?

 

  • Now trading at 678p (at time of writing), momentum has been robust.
  • Will it end, or is this trend your friend?
  • Is this the opportunity for momentum traders?
  • Momentum has been robust, but traders should remember that past performance is not always an indication of the future.
  • Technical traders should be mindful of breaking news. It can influence price action. Check our website for updates.
  • Shares -1% from 12-month highs; +30% from 12 month lows.

Latest News

08 Nov:  JP Morgan Cazenove reiterates its neutral rating on Inchcape (INCH) and reduced the target price to 590p (from 630p).

07 Nov:  Inchcape announced that it would acquire Autolider for £47m. The acquired company is a distributor of Daimler brands. The deal is intended improve Inchcape’s Latin America business.

07 Nov:  Inchcape announced a 5% revenue improvement, driven by its distribution unit. The company continues to streamline its business by disposing of some of its retail businesses.

05 Nov:  HSBC reiterates its buy rating on Inchcape (INCH) and reduced the target price to 690p (from 715p).

30 Oct:  Barclays Capital reiterates its overweight rating on Inchcape (INCH) and increased the target price to 855p (from 700p).

10 Oct:  Inchcape announced that it had reached an agreement to sell its Inchcape Fleet Solutions unit to Toyota for £100m.

Source: Bloomberg, Reuters, Alpha Terminal, FT, DJ Newswires

 

Click to enlarge

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