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May 31, 2023
Pay attention to the following communication_services stocks approaching critical price targets: Vodafone Group Plc, Charter, Dolby Laboratories, Inc. are the ones to watch.
Here's the most recent update: The leading indices are falling — Dow Jones trades at 32,800 after losing 0.76%. S&P 500 trades at 4,169.52 after losing 0.86%.
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 communication_services stocks and their price targets.
Vodafone Group now at $9.47 | Forthcoming price target: 9 cents lower at $9.38
A convincing break of this target could pave the way for deeper losses.
Vodafone Group has been losing ground for 5 days, shedding a total of 8.5% of its value. more of the same today: the iconic telecoms provider slides down from $9.67 to $9.47, losing 20 cents (2.07%).
Charter is trading at $327.32, its target level is $329.69
The mass media and telecommunications company is deeply in the red after losing 1.81%, trading down to $327.32.
Since its 52-week high of $506.93, the mass media and telecommunications company has lost 34.24% over the last twelve months. Currently, the telecommunications and mass media company has a market capitalization of $49.29 billion with an average daily volume of 971,030 shares. So far this year, it has been under-performing the Nasdaq by 22.62%. Charter has a forecast of $13.62 billion with an EPS of $7.5.
Bearish run for Charter is facing a possible turning point at $329.69, which is only $2.37 away. If this support line fails to hold, the next target will be at $326.05.
Buyers pushing Dolby Laboratories towards its price target of $82; currently at $81.59
The US audio specialist trades at $81.59 today, after closing yesterday at $81.06 and gaining 53.5 cents (0.66%). In contrast to today's gains, Dolby Laboratories has been on a 14 day bearish trend during which it lost $4.38 of its value.
After hitting an important low of $63.44 approximately 7 months ago, the consumer audio electronics company has bounced back 27.77% since. The US audio specialist's market cap currently stands at $7.79 billion with an average daily trading volume of 330,186 shares. So far this year, it has been doing worse than the Nasdaq by 6.12%. Dolby Laboratories's last revenue report was $375.89 billion with an EPS of $1.
It will be interesting to follow how Dolby Laboratories's run now faces a challenge at $82, which is only 39 cents away.
