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April 22, 2023
Change of direction? Lululemon Athletica Inc, Allison Transmission Holdings, Inc., Aptiv PLC, among others, are approaching price targets.
A recap of yesterday's session: Markets did not have a clear cut direction — Nasdaq closed 12,072 after a stable day. Dow Jones closed at 33,800 after a flat day.
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.
Lululemon Athletica (LULU) Price target: $375.36 | Last price: $377.8 | Daily range: $374.38 – $378.09
Lululemon Athletica Inc is alternating around the $375.36 support level with price action moving above and below this level several times during the session.
In the midst of a 29 day bullish trend, yesterday's session put the brakes on the ongoing uptrend — a quiet day for Lululemon Athletica as it remained range-bound within a $374.38 – $378.09 range before closing at $377.8. The day's trading volume totalled 984,460 shares — lower than the 21-day average of 2.17 million.
Allison Transmission now at $46.35 | Forthcoming price target: 52 cents lower at $45.83
Bearish run for Allison Transmission is facing a possible turning point at $45.83, which is only 52 cents away. If this support line fails to hold, the next target will be at $45.3.
Though in the midst of an 11 day uptrend, gaining a total of 7.52%, ($3.48), yesterday's session suggests run might be coming to an end — after ending Thursday at $46.59, Allison Transmission dropped to $45.81 early in yesterday's session and closed at $46.35. In total, it lost 0.52%.
Allison Transmission is scheduled to announce earnings results Tuesday. The consensus Earnings Per Share estimate is 1.53 and the consensus revenue estimate is $717.38 million.
Aptiv (APTV) Price target: $104.36 | Last price: $105.29 | Daily range: $104.19 – $105.78
$104.36 is only 93 cents away for Aptiv and might put a stop to its current downtrend.
Over the last 5 days, Aptiv has fallen 2.15%. yesterday's session continued the recent downtrend: early in yesterday's session, Aptiv dropped to $104.19 from $106.08 at the end of Thursday, before closing at $105.29. During the session, it lost 0.74%. Trading volume totalled 1.67 million which equates to around 96% of the stock's 21-day average yesterday.
