AMERIGROUP Corporation : Up to the consensus once more
By Lara Villeneuve
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
US$61.81 | US$0 | US$60.2 | -100% |
Earning releases for first quarter 2012 announced on May 2nd, outperfomed consensus expectations with a net result at 33.14 million dollars against 29.1 million dollars expected. Earnings per share are 15% up to Thomson-Reuters consensus at USD 0.64. Objectives for 2012 are maintained with a growing objective at 40% for its annual revenues including their new businesses.
Technically the stock trading in a range between USD 63.95 and USD 71.55. The decline recorded in May offers an interesting point of entry below USD 63.95 for a target fixed on the annual highs around USD 71.5.
Investors could take a long position on the stock with a first objective at USD 66.9 and at USD 71.5 by extension. A stop loss will be engaged at USD 60.2, below the short-term support.