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May 08, 2023
Ferrari N.V., AptarGroup, Inc., Sealed Air Corp, among others, are the consumer_cyclical stocks approaching important price targets.
A recap of Friday's session: Markets closed higher Friday; Dow Jones closed the day at 33,674, having gained 1.65%. S&P 500 ended the session at 4,136.25 after a 1.85% gain.
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 consumer_cyclical stocks and their price targets.
Ferrari's Price target: $298.17 | Last close: $296.81 | Daily range: $294.6 – $297.7 | Off hours: $296.81
The iconic carmaker gained 1.72% and stayed at $296.81 levels. Friday's gains added to Ferrari's 8 days uptrend, during which it increased a total of $16.38. Daily trading volume (427,218 shares) increased, making up 114% of the 21-day average (374,847).
Having soared to a high of $296.81 approximately 3 days ago, the illustrious car manufacturer is now trading 1.69% lower. Ferrari has a market cap of $53.89 billion with an average daily volume of 374,847 shares. So far this year, it has performed better than the Nasdaq by 23.27%.
Ferrari's recent run now faces a major challenge as concentrated supply is likely found at $298.17 with price action currently $1.36 away.
AptarGroup's Price target: $122.72 | Last close: $121.7 | Daily range: $119.32 – $121.82 | Off hours: $121.7
AptarGroup's run now faces a challenge at $122.72, which is only $1.02 away and will be interesting to follow.
The US cosmetics enabler went up to $121.7, gaining 2.44%. Friday's trading volume was 171,147 shares which is slightly below the 21-day average of 243,943.
Sealed Air's Price target: $42.87 | Last close: $42.54 | Daily range: $41.98 – $42.75 | Off hours: $42.54
It will be interesting to follow how Sealed Air's run now faces a challenge at $42.87, which is only 33 cents away.
The packaging company went up to $42.54, gaining 1.75%. Trading volume totalled 1.14 million which equates to around 93% of the stock's 21-day average Friday.
