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May 23, 2023
Read up on Tempur Sealy International, Inc., General Motors Co, Boyd Gaming Corporation as they approach key price targets in the near term.
What is happening with the market now? The leading indices are dropping — S&P 500 slipping 0.97% and closing at 4,152. Nasdaq trades at 12,582 after losing 1.09%.
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. Take a look at these consumer_cyclical stocks and their price targets.
Tempur Sealy now at $37.96 | Forthcoming price target: 50 cents lower at $37.46
$37.46 is only 50 cents away for Tempur Sealy International, Inc. and might put a stop to its current downtrend.
Tempur Sealy is on a 6 day downtrend today is looking a bit better: a mostly flat day so far for the US mattress and bedding maker, range-bound between $37.51 and $38.27 and currently at $37.96.
Bullish momentum leaves General Motors flirting with resistance at $33.81
Following yesterday's session which closed at $32.86, GM went up to $33.84 today only to drop back and trade at $33.38. Today's gains are adding to GM's a 5 day bullish trend, during which it gained a total of $1.32.
Having soared to a high of $43.17 approximately 3 months ago, the prominent US automaker is now trading 23.88% lower. The company is currently trading with a market cap of $46.40 billion with an average daily trading volume of 15.36 million shares. So far this year, it has been under-performing the S&P by 11.61%. GM is forecasted to generate revenues of $38.95 billion and EPS of $1.71.
Price action in GM broke through resistance at $33.81.
Recent share price strength coincides with General Motors's decision to disclose a quarterly dividend of 9 cents per share on Wednesday, February 1st. Payments were made to all eligible shareholders on Thursday, March 16th and, based on current prices, means investors will earn an annual dividend yield of 1.08%.
Boyd Gaming now at $64.5 | Forthcoming price target: 63 cents lower at $65.12
Bearish run for Boyd Gaming is facing a possible turning point at $65.12, which is only 63 cents away. If this support line fails to hold, the next target will be at $63.92.
While on a 10 day slump, falling a total of 9.1%, more of the same today: the US gaming and hospitality company drops 2.41% in early trade and remains within touching distance of the $64.5 level.
