Is Kenon Holdings Ltd. (KEN) a Buy? The Stock Reaches 52-Week High Today

January 9, 2018 - By Winifred Garcia

The stock of Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high and has $30.94 target or 7.00 % above today’s $28.91 share price. The 5 months bullish chart indicates low risk for the $1.46B company. The 1-year high was reported on Jan, 9 by Barchart.com. If the $30.94 price target is reached, the company will be worth $101.85M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 26.53% or $6.0615 during the last trading session, reaching $28.9114. About 22,400 shares traded or 1067.27% up from the average. Kenon Holdings Ltd. (NYSE:KEN) has risen 51.19% since January 9, 2017 and is uptrending. It has outperformed by 34.49% the S&P500.

More notable recent Kenon Holdings Ltd. (NYSE:KEN) news were published by: Prnewswire.com which released: “IC Power Ltd., a Wholly-Owned Subsidiary of Kenon Holdings Ltd., Launches …” on January 23, 2017, also Reuters.com with their article: “Israel’s Kenon agrees to sell IC Power’s Latam business for $1.2 billion” published on November 26, 2017, Reuters.com published: “Kenon, Chery sell 51 pct of China car venture Qoros for $1 bln” on January 09, 2018. More interesting news about Kenon Holdings Ltd. (NYSE:KEN) were released by: Prnewswire.com and their article: “Kenon Holdings Reports Third Quarter 2017 Results and Additional Updates” published on November 27, 2017 as well as Prnewswire.com‘s news article titled: “Kenon Holdings Reports First Quarter 2017 Results and Additional Updates” with publication date: May 31, 2017.

Kenon Holdings Ltd., through its subsidiaries, owns, develops, and operates power generation and distribution facilities primarily in Latin America, the Caribbean, and Israel. The company has market cap of $1.46 billion. It also designs, makes, distributes, and services passenger vehicles through a network of independent authorized retail dealers in the People??s Republic of China. It currently has negative earnings. As of December 31, 2016, the company??s Qoros?? dealerships had 115 point of sales.

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