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May 02, 2023
Pay attention to the following communication_services stocks approaching critical price targets: Vodafone Group Plc, Bilibili Inc., Rogers Communications Inc. are the ones to watch.
A quick recap of where the last trading session ended: Leading equity indices in the US declined as Dow Jones was down 1.08% before closing the session at 33,700. S&P 500 closed at 4,119.58, a 1.16% change.
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. Let's review some communication_services stocks and their price targets.
Vodafone Group now at $11.68 | Forthcoming price target: 8 cents lower at $11.6
After ending yesterday at $11.85, Vodafone Group Plc declined to $11.61 today before closing at $11.68, thereby losing 1.43% in total. Continuing its a 4 day bearish run (-14 cents), Vodafone Group showed losses today. The day's trading volume totalled 3.92 million shares — slightly under the 21-day average of 4.31 million.
The telecoms giant reached a significant high of $16.77 around 11 months ago but has lost 29.34% since then. The company has a market cap of $31.53 billion with an average daily volume of 4.31 million shares. So far this year, it has been under-performing the Nasdaq by 0.57%.
A convincing break of this target could pave the way for deeper losses.
Bilibili (BILI) Price target: $18.44 | Last price: $18.79 | Daily range: $18.76 – $19.8
After ending yesterday at $20.23, Bilibili dropped to $18.76 early in today's session and closed at $18.79. In total, it lost 7.12%. Bilibili has dropped 13 cents over the past 3 days; today's session continued this downtrend. Daily trading volume (4.67 million shares) was slightly greater than the current multiday average of 3.99 million.
The Chinese video community enabler has shed 22.93% over the past three months. Bilibili is currently trading with a market cap of $7.72 billion with an average daily trading volume of 3.99 million shares. So far this year, it has been under-performing the Nasdaq by 40%. Bilibili has a forecast of $5.69 billion with an EPS of -63 cents.
A persuasive break of this target could lead to higher losses.
Rogers Communication | Price Target: $48.76 approx 31 cents away; Current Price: $49.07 Session Low: $48.84 Session High: $49.51 | Off Hours: $49.07
Early in today's session, Rogers Communication dropped to $48.84 from $49.66 at the end of yesterday, before closing at $49.07. During the session, it lost 1.19%. Today's fall came on the back of a 6 day uptrend, during which Rogers Communication added 3.59% to its share price today's trading volume was 259,057 shares which is slightly below the 21-day average of 365,581.
Rogers Communication hit a significant low of $37.05 around 6 months ago, but has since recovered 34.04%. Currently, the Canadian telecoms provider has a market capitalization of $25.91 billion with an average daily volume of 365,581 shares. So far this year, it has been under-performing the Nasdaq by 8.97%.
Rogers Communication is eyeing the $48.76 support line.
Rogers Communication disclosed a quarterly dividend of 36.2 cents per share on Thursday, February 2nd that was paid on Monday, April 3rd to all shareholders of record up until Friday, March 10th. Based on current prices, the company's decision thereby provides Rogers Communication investors with an annual dividend yield of 2.95%.
