3 stocks with price targets despite today's range-bound session

Published: January 25 2023, 21:50 GMT+0

3 stocks with price targets despite today's range-bound session

Read up on ASML Holding, PepsiCo, Eagle Materials Inc. as they approach key price targets in the near term.

A recap of today's session: Markets did not have a clear cut direction — Nasdaq shed 0.18% and closed at 11,300. S&P 500 closed 4,016.22 after a stable day.

What is a Price Target?

A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock.

Buyers pushing ASML towards its price target of $675.39; currently at $681.53

An influx of buyers helped the chip-making, semiconductor equipment systems manufacturer to end the session higher around $681.53, while establishing a $655 to $683 session range today. Today's gains added to ASML's bullish trend that has lasted for 4 days so far, during which it increased a total of $39.76. Daily trading volume (1.57 million shares) increased, making up 158% of the 21-day average (992,296).

This year has been a bright one for the chip-making, semiconductor equipment systems manufacturer after trading as low as $379.13 and going on to appreciate by 21.92% year to date. The company's market cap currently stands at $274.75 billion with an average daily trading volume of 992,296 shares. So far this year, it has been outperforming the Nasdaq by 13.56%.

ASML's recent run now faces a major challenge as concentrated supply is likely found at $675.39 with price action currently $6.14 away.

ASML is scheduled to announce earnings results today. The consensus Earnings Per Share estimate is 4.62 and the consensus revenue estimate is $6.50 billion.

Buyers pushing PepsiCo towards its price target of $171.56; currently at $171.93

PepsiCo recovered all the way back up to $171.93 after dipping down to $169.34. Today's trading volume was 3.75 million shares which is slightly under the 21-day average of 4 million.

This year has been a gloomy one for the soft-drinks and beverages company after trading as high as $185.9 and going on to lose 4.86% of its value. PepsiCo has a market cap of $236.87 billion with an average daily volume of 4 million shares. So far this year, it has been doing worse than the Nasdaq by 13.22%. PepsiCo last reported revenue of $21.97 billion with an EPS of $1.97.

It will be interesting to follow how PepsiCo's run now faces a challenge at $171.56, which is only 37 cents away.

PepsiCo disclosed a quarterly dividend of $1.15 per share on Thursday, November 17th that was paid on Friday, January 6th to all shareholders of record up until Friday, December 2nd. Based on current prices, the company's decision thereby provides PepsiCo investors with an annual dividend yield of 2.68%.

Buyers pushing Eagle Materials towards its price target of $145.05; currently at $144.73

Eagle's run now faces a challenge at $145.05, which is only 32 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

Eagle has posted further gains as part of a 4 day trend that has already seen the stock gain $5.7. today's session pointed in the same direction — after dipping down to $141.59, Eagle regained earlier losses and closed at $144.73. Trading volume totalled 215,457 which equates to around 93% of the stock's 21-day average today.

Eagle Materials is scheduled to announce earnings results tomorrow. The consensus EPS estimate is 3.19 and the consensus revenue estimate is $534.54 million.

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