Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (SBS) has risen sharply, recording gains of 5.28% in the past 4 weeks. However, the stock has corrected -0.64% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.72% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (NYSE:SBS): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.36 and $9.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $9.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $9.38, notching a gain of 2.40% for the day. The total traded volume was 2,590,074 . The stock had closed at $9.16 on the previous day.
The stock has recorded a 20-day Moving Average of 2.37% and the 50-Day Moving Average is 10.12%. Companhia de Saneamento Basico do Estado de Sao Paulo is up 24.73% in the last 3-month period. Year-to-Date the stock performance stands at 105.86%.
Companhia de saneamento Basico Do Estado De Sao Paulo – Sabesp (SBS) stock is expected to deviate a maximum of $0.83 from the average target price of $9.42 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $10 and the most muted being $9.
Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP is a mixed capital company. The Company is engaged in the provision of basic and environmental sanitation services in the State of Sao Paulo, as well as it supplies treated water and sewage services on a wholesale basis. The Company operates two segments: water supply and sewage services. It operates water and sewage services in approximately 364 municipalities of the State of Sao Paulo. Most of these municipalities operations are based on 30-year concession, program and services contracts. The Company also provides advisory services on the rational use of water, planning and commercial management, financial and operating issues. The Company is qualified to provide urban rainwater drainage and urban cleaning services, handle solid waste, sell power, perform other services, provide products and obtain benefits and rights that directly or indirectly result from its assets, operations and activities, in Brazil or abroad.