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February 26, 2023
Pay attention to the following communication_services stocks approaching critical price targets: Telefónica, S.A., T-Mobile, Vodafone Group Plc are the ones to watch.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq lost 1.69% and ended the session at 11,400. After dropping 1.02%, Dow Jones closed at 32,817.
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.
Telefonica's Price target: $4.13 | Last close: $4.12 | Daily range: $4.08 – $4.12 | Off hours: $4.12
The Spanish telecoms titan went up to $4.12, gaining 0.98%. Friday's gains added to Telefonica's 4 days uptrend, during which it increased a total of 9 cents. Friday's trading volume was 600,979 shares which is under the 21-day average of 1 million.
The Spanish telecoms titan has managed to gain 13.65% so far this year despite trading at lows around $3.15 previously. Telefonica has a market cap of $23.79 billion with an average daily trading volume of 1 million shares. So far this year, it has been beating the Nasdaq by 4.95%.
Telefonica's recent run now faces a major challenge as concentrated supply is likely found at $4.13 with price action currently 1 cents away.
T-Mobile's price target: $141.38 | Last close: $144.41 | Daily range: $142.21 – $144.56 | Off hours: $144.41
T-Mobile recovered back to $144.41 after dipping down to $142.21, in a session that followed Thursday's $144.73 close value. While flat so far today, T-Mobile is on a 5 day bearish trend during which it lost $4.62 of its value. Trading volume totalled 4.59 million which equates to around 93% of the stock's 21-day average Friday.
The wireless services company has gained 3.85% since its lowest print of $119.28 earlier this year. The telecommunications provider's market cap currently stands at $176 billion with an average daily volume of 4.97 million shares. So far this year, it has been doing worse than the Nasdaq by 4.85%. T-Mobile has a forecast of $20.60 billion with an EPS of $1.1.
$141.38 is only $3.03 away for T-Mobile and might put a stop to its current downtrend.
Vodafone Group's price target: $11.57 | Last close: $11.68 | Daily range: $11.61 – $11.87 | Off hours: $11.68
An influx of sellers pushed the telecoms giant to session lows around $11.61 while establishing a $11.61 to $11.87 session range Friday. Vodafone Group has been dropping for 7 days, losing 53 cents, with Friday's session maintaining the downtrend. Daily trading volume (17.77 million shares) was higher than the current multiday average of 9.41 million.
Having set a significant low of $10.06 a month ago, the iconic telecoms provider is trading 18.09% higher. Currently, the telecoms giant has a market capitalization of $31.64 billion with an average daily volume of 9.41 million shares. So far this year, it has been outperforming the Nasdaq by 3.8%.
$11.57 is only 11 cents away for Vodafone Group and might put a stop to its current downtrend.
