The stock of AU Optronics Corp (ADR) (NYSE:AUO) gapped up by $0.11 today and has $4.97 target or 30.00% above today’s $3.82 share price. The 9 months technical chart setup indicates low risk for the $3.71B company. The gap was reported on Oct, 4 by Barchart.com. If the $4.97 price target is reached, the company will be worth $1.11B 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 increased 4.66% or $0.17 on October 3, hitting $3.82. About 464,386 shares traded hands. AU Optronics Corp (ADR) (NYSE:AUO) has risen 38.41% since March 1, 2016 and is uptrending. It has outperformed by 26.19% the S&P500.
Analysts await AU Optronics Corp (ADR) (NYSE:AUO) to report earnings on October, 25.
AU Optronics Corp (ADR) (NYSE:AUO) Ratings Coverage
Out of 7 analysts covering AU Optronics (NYSE:AUO), 2 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 29% are positive. AU Optronics has been the topic of 8 analyst reports since July 30, 2015 according to StockzIntelligence Inc. The firm has “” rating given on Thursday, July 30 by Fubon Bank. Credit Suisse upgraded the shares of AUO in a report on Wednesday, June 29 to “Outperform” rating. The firm earned “Market Perform” rating on Friday, September 9 by Bernstein. The rating was upgraded by Bank of America to “Buy” on Tuesday, July 19. Citigroup upgraded AU Optronics Corp (ADR) (NYSE:AUO) on Thursday, April 7 to “Sell” rating. The company was downgraded on Thursday, July 30 by KGI Securities. The firm earned “Neutral” rating on Monday, January 11 by JP Morgan.
According to Zacks Investment Research, “Au Optronics is a world-leading manufacturer of large-size thin film transistor liquid crystal display panels, which are currently the most widely used flat panel display technology. They are used in notebook computers, desktop monitors, televisions, digital cameras, DVD players, PDAs, mobile phones, portable games, and car navigation systems, among other applications.”
More news for AU Optronics Corp (ADR) (NYSE:AUO) were recently published by: Marketwatch.com, which released: “AU Optronics Corp. ADR” on December 21, 2009. Benzinga.com‘s article titled: “AU Optronics Upgraded To Outperform At Credit Suisse” and published on June 29, 2016 is yet another important article.
AUO Company Profile
AU Optronics Corp., incorporated on August 12, 1996, is a thin-film-transistor liquid-crystal display (TFT-LCD) panel provider. The Firm operates in two business divisions: display business and solar business. Through Display business segment, the Company designs, develops, makes, assembles and markets flat panel displays and most of its products are TFT-LCD panels. The Company’s panels are primarily used in televisions, monitors, mobile personal computers (PCs), mobile devices and commercial and other applications (such as displays for automobiles, industrial PCs, automated teller machines, point of sale terminals and pachinko machines). Through Solar business segment, the Company is capable of manufacturing upstream and midstream products, such as ingots, solar wafers and solar cells.
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