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April 21, 2023
Read up on FedEx Corp, Raytheon Technologies, Trane Technologies PLC as they approach key price targets in the near term.
A short overview of the current market situation: The leading indices are climbing up — Nasdaq goes up 0.27%, trading at 12,100. S&P 500 up to 4,137.19, gaining 0.18%.
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.
Buyers pushing FedEx towards its price target of $231.18; currently at $231.19
FedEx Corp's run now faces a challenge at $231.18, which is only 2 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
FedEx has posted further gains as part of a 23 day trend that has already seen the stock gain $13.14. as the session continues, it seems to maintain one direction — small gain for FedEx at $231.19 after ranging between $228.77 and $232.5 today.
Raytheon Technologies (RTX) Price target: $102.33 | Last price: $102.21 | Daily range: $101.88 – $103.24
$102.33 is only 12 cents away for Raytheon Technologies and might put a stop to its current downtrend.
While on a 3 day slump, falling a total of 2.34%, more of the same today: the US defence contractor slides down from $102.84 to $102.21, losing 63.04 cents (0.61%).
Raytheon Technologies is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 1.11 and the consensus revenue estimate is $16.97 billion.
Buyers pushing Trane Technologies towards its price target of $177.25; currently at $176.92
Trane Technologies's recent run now faces a major challenge as concentrated supply is likely found at $177.25 with price action currently 33 cents away.
Trane Technologies has posted further gains as part of an 11 day trend that has already seen the stock gain $5.96. this session seems to remain in the same lane for now — after closing at $176.45 yesterday, Trane Technologies began today at $176.46 with significant bullish sentiment driving Trane Technologies's price action higher. So far today, price action has drawn out a distinct $175.5 to $177 range.
