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April 14, 2023
Otis Worldwide Corp, JetBlue Airways Corporation, Verisk Analytics Inc, among others, are the industrials stocks approaching important price targets.
A quick recap: The leading indices are currently lower — Dow Jones slipping 0.66% and closing at 33,800. Nasdaq drawing back 0.93% to 12,053.
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. Check out this rundown of industrials stocks and their price targets.
Otis Worldwide now at $81 | Forthcoming price target: 96 cents lower at $80.04
Without a clear-cut direction, Otis Worldwide Corp is trading around $81 and ranging between $80.79 and $82. While flat so far today, Otis Worldwide is on a 5 day bullish trend, gaining a total of $2.67 throughout.
The escalator pacesetter has fallen back around 6.64% from the significant high of $86.93 set a month ago. The company is currently trading with a market cap of $33.47 billion with an average daily trading volume of 1.76 million shares. So far this year, it has been under-performing the S&P 500 by 5.19%. $3.44 billion was Otis Worldwide's last reported revenue with 75 cents being the current EPS.
Otis Worldwide is eyeing the $80.04 support line.
JetBlue now at $6.79 | Forthcoming price target: 8 cents lower at $6.87
$6.87 is only 8 cents away for JetBlue Airways and might put a stop to its current downtrend.
JetBlue Airways has been losing ground for 3 days, shedding a total of 5.96% of its value. more of the same today: tough session sees the major low cost US airline shedding 2.3% in early trade
Verisk Analytics is trading at $191.83, its target level is $192.67
The data analytics and risk assessment firm crashes after losing 1.43%, down to $191.83.
The risk assessment firm has managed to gain 9.74% so far this year despite trading at lows around $158.23 previously. Verisk Analytics's market cap is currently $29.67 billion with an average daily volume of 1 million shares. So far this year, it has been doing worse than the Nasdaq by 4.88%. Verisk Analytics is forecasted to generate revenues of $616.33 million and EPS of $1.17.
Bearish run for Verisk Analytics is facing a possible turning point at $192.67, which is only 84 cents away. If this support line fails to hold, the next target will be at $190.73.
