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

Published: January 26 2023, 06:50 GMT+0

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

Change of direction? Lockheed Martin, Hyatt Hotels Corporation, Ford Motor Co, among others, are approaching price targets.

A quick recap of where the last trading session ended: 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 Lockheed Martin towards its price target of $454.16; currently at $454.16

Lockheed Martin's run now faces a challenge at $454.16, which is only $4.94 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.

Lockheed Martin has posted further gains as part of a 4 day trend that has already seen the stock gain $9.92. yesterday's session pointed in the same direction — pronounced bullish sentiment in the market helped the global security and aerospace company to make a notable 1.1% gain yesterday, rising $4.93 and ultimately closing at $454.16. Daily trading volume (2.35 million shares) increased, making up 168% of the 21-day average (1.40 million).

Hyatt Hotels's Price target: $112.92 | Last close: $112.11 | Daily range: $110.58 – $113.19 | Off hours: $112.11

After closing at $111.82 on Tuesday, Hyatt Hotels maintained a strong bullish bias that helped the stock close higher at $112.11 yesterday. However, market bears ensured the the US hospitality giant topped out at $113.19 and that by the end of the session, the market had marked out a distinct $110.58 to $113.19 range. Hyatt Hotels has increased a total of $23 over the past 15 days, with yesterday's session contributing to the uptrend. Daily trading volume (939,154 shares) was slightly greater than the current multiday average of 782,857.

The multinational hospitality company has managed to gain 25.92% so far this year despite trading at lows around $71.21 previously. The US hospitality giant's market cap currently stands at $12 billion with an average daily volume of 782,857 shares. Hyatt Hotels last reported revenue of $1.54 billion with an EPS of 64 cents.

Hyatt Hotels's recent run now faces a major challenge as concentrated supply is likely found at $112.92 with price action currently 81 cents away.

Ford Motors's Price target: $12.89 | Last close: $12.79 | Daily range: $12.48 – $12.85 | Off hours: $12.79

Ford Motors's recent run now faces a major challenge as concentrated supply is likely found at $12.89 with price action currently 10 cents away.

Ford Motors has posted further gains as part of a 4 day trend that has already seen the stock gain 56 cents. yesterday's session pointed in the same direction — Ford Motors recovered from the previous trading session's losses and went up to $12.79 yesterday after it traded lower at $12.48. Yesterday's trading volume was 37.74 million shares which is slightly below the 21-day average of 52.61 million.

Ford Motors is scheduled to announce earnings results Thursday. The consensus EPS estimate is 0.59 and the consensus revenue estimate is $40.36 billion.

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