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Teleflex Inc. (TFX) has a Very Bullish Chaikin Power Gauge stock rating and broke out above resistance at $115 in mid-February on very heavy institutional buying as measured by Chaikin Money Flow. This buying has continued through May and indicates persistent accumulation of TFX’s shares. The stock triggered a Momentum Breakout Buy signal in Chaikin Analytics two weeks ago, and then consolidated for 5 trading sessions. This past Thursday and Friday saw a reversal back to the upside, and a new high for TFX.
Buy TFX on any pullbacks of 1 1/2 - 3 days in anticipation of further price gains in the months ahead.
Teleflex manufactures products and provides services for diverse markets including: medical, automotive, aerospace, marine and industrials. The company sells its products both domestically and in an increasingly important international effort. On May 21, Teleflex hosted an analyst meeting that was extremely up beat. The meeting, which detailed the company’s plans for future expansion and growth, caused Brean Capital analyst Jason Wittes to raise his price target on TFX to $135, citing company projections of 5-6% revenue growth through 2018. This was deemed to be very conservative on the part of management.
On April 30 the company beat analyst earnings estimates for the 8th consecutive quarter and reaffirmed their prior guidance for 2015.
Teleflex Inc. has a very bullish Chaikin Power rating driven by a bullish Earnings component and very strong price volume activity. TFX is in the strong Medical Products group and has a relatively low projected P/E ratio. Analysts having been raising their earnings estimates and ratings for TFX, putting pressure on the short sellers who have a large short position in Teleflex.
Plus:
Chaikin Educational Webinars: How to Find Winning Stocks
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NASDAQ Chaikin Power Stock Indexes
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
