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

December 8, 2017 - By Henry Gaston

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 4.80 million 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 “Overweight” rating given on Tuesday, September 6 by Barclays Capital. The firm earned “Hold” rating on Friday, July 31 by Kepler Cheuvreux. Wood upgraded the stock to “Market Perform” rating in Friday, April 28 report. Goldman Sachs upgraded the stock to “Conviction Buy” rating in Tuesday, March 8 report. The stock has “Underperform” rating by BNP Paribas on Thursday, February 9. The firm has “Buy” rating given on Friday, September 18 by Citigroup. The firm has “Buy” rating given on Tuesday, October 11 by Natixis. HSBC upgraded the stock to “Reduce” rating in Friday, August 14 report. The rating was upgraded by BNP Paribas to “Outperform” on Monday, January 11. UBS upgraded the stock to “Buy” rating in Wednesday, February 1 report.

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

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