Molson Coors Brewing Co. (NYSE: TAP) had its price target raised by equities researchers at Susquehanna from $129.00 to $159.00. With a rating of Positive on the stock, Molson Coors Brewing Co. has a 52-week high of $107.55. A number of other analysts have spoken on the stock in recent days, and the company has earned a consensus one-year price target of $120.50, higher than the opening price of $103.22, a difference of 11.46 percent.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday Molson Coors Brewing Co. (NYSE: TAP) shares last traded at $105.15, which is a spike of $2.95 over the previous closing price. Opening at $103.22, they fluctuated from $102.92 and $105.36 throughout the day.
Molson Coors Brewing Co. (NYSE: TAP) now has a market cap of 22.58B.
2,079,603 shares traded hands yesterday, lower than the average, out of a total float 179,367,000. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or circulation by institutional investors.
However, just a day of significant buy side trading is not enough to assert a trend. So market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors retain teams of analysts researching thousands of stocks, so it is good validation to see them buying a stock you are researching.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Molson Coors Brewing Co. (NYSE: TAP) have ranged from $78.17 – 107.55, and the stock now has a 50-day MA of $101.50 and 200-day MA of $98.75. Today’s last price is 0.02% lower than the 52 week high of $107.55.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors look for companies that have increased their earnings at least 25% or more over a 3 year period.
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