How Analysts Feel About Banco Santander, S.A. (SAN) After Forming Ascending Triangle Chart Pattern?

December 8, 2017 - By Adrian Mccoy

The stock of Banco Santander, S.A. (SAN) formed an ascending triangle with $6.09 target or 6.00 % below today’s $6.48 share price. The 6 months triangle pattern indicates high risk for the $105.50B company. If the $6.09 price target is reached, the company will be worth $6.33B less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.78% or $0.05 during the last trading session, reaching $6.48. About 4.80M shares traded. Banco Santander, S.A. (NYSE:SAN) has risen 44.48% since December 8, 2016 and is uptrending. It has outperformed by 27.78% the S&P500.

Banco Santander, S.A. (NYSE:SAN) Ratings Coverage

Among 11 analysts covering Banco Santander (NYSE:SAN), 6 have Buy rating, 1 Sell and 4 Hold. Therefore 55% are positive. Banco Santander had 18 analyst reports since July 31, 2015 according to SRatingsIntel. The firm has “Market Perform” rating given on Friday, April 28 by Wood. The firm has “Buy” rating by JP Morgan given on Friday, April 21. Deutsche Bank upgraded the shares of SAN in report on Friday, August 28 to “Hold” rating. The firm has “Buy” rating by UBS given on Wednesday, February 1. The stock of Banco Santander, S.A. (NYSE:SAN) has “Overweight” rating given on Tuesday, September 6 by Barclays Capital. The firm has “Reduce” rating by HSBC given on Friday, August 14. The firm has “Conviction Buy” rating given on Tuesday, March 8 by Goldman Sachs. As per Friday, September 18, the company rating was upgraded by Citigroup. The rating was upgraded by RBC Capital Markets on Wednesday, October 19 to “Sector Perform”. The firm has “Buy” rating by Natixis given on Tuesday, October 11.

More news for Banco Santander, S.A. (NYSE:SAN) were recently published by: Investorplace.com, which released: “7 Ways to Get Rich Internationally in 2018” on December 01, 2017. Quotes.Wsj.com‘s article titled: “Banco Santander SA ADR” and published on February 11, 2011 is yet another important article.

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