Is it irrelevant, or will the Upgrade make the Hunting share price more attractive?

• UBS upgrades to Buy, with a 710p target (up from 600p).
• Consensus: 10 Buys, 5 Holds, 1 Sell; Avg target: 736p (Source: Bloomberg).
• Current share price 578p (at time of writing).
• Will the shares turn back, or will the upgrade push them towards 694p Nov highs?
• Shares -1.8% from 2019 highs; +25.2% from 2019 lows; +20.3% year-to date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Hunting – An Example

Let’s say you think that Hunting  shares have upside potential as result of this broker upgrade. You decide to buy exposure to £10,000 worth of Hunting  using a CFD, at the current price of 578p. To do this, you need £2,000.

For the purpose of this example, let’s assume the Hunting share price rises to 694p Nov highs (+20%). Your profit would be £2000 from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Hunting  shares fall 5% and hit your stop-loss. Your loss would be £500.

This is provided for information purposes only. It should not be taken as a recommendation.