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Stock Investors Bid Up Shares of Cia de Saneamento Basico do Estado de Sao Paulo, Up 1.2%

Published on Fri, 02/15/2013 - 11:34
By Peter Chu

Cia de Saneamento Basico do Estado de Sao Paulo (NYSE:SBS) is one of today's biggest movers, up 1.2% to $47.37. The S&P is trading fractionally higher to 1,522 and the Dow is trading fractionally higher to 13,988.

Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP collects, treats, and distributes water. The Company also engineers and constructs water distribution infrastructure and water treatment systems. SABESP operates in the Brazilian State of Sao Paulo.

In the past 52 weeks, shares of Cia de Saneamento Basico do Estado de Sao Paulo have traded between a low of $33.70 and a high of $47.79 and are now at $47.37, which is 41% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 1.0%.

Potential upside of 12.9% exists for Cia de Saneamento Basico do Estado de Sao Paulo, based on a current level of $47.37 and analysts' average consensus price target of $53.50. The stock should find initial support at its 50-day moving average (MA) of $43.26 and further support at its 200-day MA of $40.87.

By Peter Chu
pchu@fnno.com

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