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March 09, 2023
Read up on Tencent Music Entertainment Group, The Liberty SiriusXM Group, Live Nation Entertainment Inc as they approach key price targets in the near term.
A quick recap: The leading indices are pointing up — Nasdaq up to 11,600, gaining 0.3%. Dow Jones is relatively flat, trades at 32,830.
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. Take a look at these communication_services stocks and their price targets.
Tencent (TME) Price target: $7.36 | Last price: $7.43 | Daily range: $7.37 – $7.54
A convincing break of this target could pave the way for deeper losses.
While on a 5 day downtrend, dropping a total of 9%, similar trend today: the Chinese music streaming pacesetter slides down from $7.61 to $7.43, losing 17.5 cents (2.3%).
Liberty Media A now at $29.08 | Forthcoming price target: 45 cents lower at $28.63
$28.63 is only 45 cents away for Liberty Media an and might put a stop to its current downtrend.
In the last 8 days, Liberty Media A has lost a total of 11.29% of its value. more of the same today: slightly weaker but mostly flat: Liberty Media an is currently trading at $29.08 as it maintains an active range between $28.96 and $29.4.
Live Nation Entertainment is trading at $69.91, its target level is $69.74
A persuasive break of this target could lead to higher losses.
While on a 4 day slump, falling a total of 4.2%, similar trend today: slightly weaker but mostly flat: Live Nation Entertainment is currently trading at $69.91 as it maintains an active range between $69.78 and $70.66.
