Could Sanofi (SNY) See a Reversal After Having Formed Several Months Bearish Multiple Bottom

January 23, 2018 - By Peter Erickson

The stock of Sanofi (SNY) shows a multiple bottoms pattern with $39.62 target or 9.00 % below today’s $43.54 share price. The 6 months chart pattern indicates high risk for the $104.26 billion company. It was reported on Jan, 23 by Finviz.com. If the $39.62 price target is reached, the company will be worth $9.38B less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

The stock increased 0.79% or $0.34 during the last trading session, reaching $43.54. About 2.20 million shares traded or 52.87% up from the average. Sanofi (NYSE:SNY) has risen 26.96% since January 23, 2017 and is uptrending. It has outperformed by 10.26% the S&P500.

Analysts await Sanofi (NYSE:SNY) to report earnings on February, 14. They expect $0.68 earnings per share, up 1.49 % or $0.01 from last year’s $0.67 per share. SNY’s profit will be $1.63B for 16.01 P/E if the $0.68 EPS becomes a reality. After $1.00 actual earnings per share reported by Sanofi for the previous quarter, Wall Street now forecasts -32.00 % negative EPS growth.

Sanofi (NYSE:SNY) Ratings Coverage

Among 12 analysts covering Sanofi-aventis Sa (NYSE:SNY), 1 have Buy rating, 1 Sell and 10 Hold. Therefore 8% are positive. Sanofi-aventis Sa has $56 highest and $48.0 lowest target. $51.33’s average target is 17.89% above currents $43.54 stock price. Sanofi-aventis Sa had 23 analyst reports since October 15, 2015 according to SRatingsIntel. The rating was downgraded by Bernstein on Monday, November 9 to “Mkt Perform”. The firm earned “Neutral” rating on Wednesday, April 12 by JP Morgan. Barclays Capital upgraded Sanofi (NYSE:SNY) on Wednesday, November 15 to “Equal-Weight” rating. The stock of Sanofi (NYSE:SNY) has “Neutral” rating given on Monday, November 7 by Goldman Sachs. The firm has “Reduce” rating given on Friday, April 7 by HSBC. Barclays Capital upgraded the stock to “Overweight” rating in Thursday, May 12 report. JP Morgan maintained the stock with “Sell” rating in Friday, March 31 report. BNP Paribas downgraded the shares of SNY in report on Thursday, December 10 to “Underperform” rating. The firm has “Neutral” rating given on Friday, April 21 by JP Morgan. Berenberg downgraded Sanofi (NYSE:SNY) on Thursday, May 11 to “Hold” rating.

More notable recent Sanofi (NYSE:SNY) news were published by: Nasdaq.com which released: “Mid-Afternoon Market Update: Bioverativ Climbs Following $105/Share Offer From …” on January 22, 2018, also Investorplace.com with their article: “5 Reasons Why Sanofi SA (ADR) (SNY) is a Good Stock to Buy Now” published on April 12, 2017, Investorplace.com published: “Is Sanofi’s Bioverative Inc Buyout Just the Start?” on January 22, 2018. More interesting news about Sanofi (NYSE:SNY) were released by: Benzinga.com and their article: “38 Biggest Movers From Yesterday” published on January 23, 2018 as well as Benzinga.com‘s news article titled: “32 Stocks Moving In Monday’s Mid-Day Session” with publication date: January 22, 2018.

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