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June 19, 2023
Change of direction? Silgan Holdings Inc., MercadoLibre, Sealed Air Corp, among others, are approaching price targets.
Today's session summary: Leading equity indices in the US declined as Nasdaq lost 0.68% and ended the session at 13,700. S&P 500 shed 0.37% and closed at 4,409.59.
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 consumer_cyclical stocks and their price targets.
Silgan Holdings Inc. has posted further gains as part of a 6 day trend that has already seen the stock gain 55 cents. today continued on the same track for Silgan — Silgan rose 20 cents to close at $47.64 today which makes for a move of 0.42%. Daily trading volume (691,160 shares) was higher than the current multiday average of 484,492.
Having fallen $65.72 in 10 days, today's session continued down the same path: during today's session, MercadoLibre toiled and struggled for upward momentum before closing at $1,194.74. By the close, the the e-commerce marketplaces and online auctions operator suffered a $29.03 or 2.37% loss. Daily trading volume (779,948 shares) was higher than the current multiday average of 457,040.
Sealed Air has posted further gains as part of a 6 day trend that has already seen the stock gain 75 cents. Sealed Air pointed in the same direction today: Sealed Air rose $1.06 to close at $40.43 today which makes for a move of 2.69%. Daily trading volume (3.23 million shares) increased, making up 254% of the 21-day average (1.27 million).
