Read up on A. O. Smith Corp, W W Grainger Inc, Dover Corp as they approach key price targets in the near term.

A quick recap of where the last trading session ended: Leading equity indices in the US declined as Nasdaq was down 0.35% before closing the session at 12,300. S&P 500 slipped 0.16% and closed at 4,124.

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 industrials stocks and their price targets.

A. O. Smith now at $67.24 | Forthcoming price target: 89 cents lower at $66.35

$66.35 is only 89 cents away for A. O. Smith Corp and might put a stop to its current downtrend.

A. O. Smith's downtrend has seen it decline 4.46% in 6 days yesterday's session continued the recent downtrend: early in yesterday's session, A. O. Smith dropped to $66.72 from $68.4 at the end of Thursday, before closing at $67.24. During the session, it lost 1.7%. Daily trading volume (1.31 million shares) was slightly greater than the current multiday average of 1.26 million.

W. W. Grainger now at $684.62 | Forthcoming price target: $6.9 lower at $677.72

Without a clear direction, W. W. Grainger closed at $684.62 while ranging between $677.63 and $691.34. While flat yesterday, W. W. Grainger is on a 7 day bullish trend, gaining a total of $16.87 throughout. Trading volume totalled 173,786 which equates to around 67% of the stock's 21-day average yesterday.

This year has been a bright one for US-based industrial supply company W.W. Grainger, after trading as low as $442.09 and going on to appreciate by 23.16% year to date. W. W. Grainger is currently trading with a market cap of $34.35 billion with an average daily volume of 258,881 shares. The S&P has been doing worse in 2022, it has been passing it by 15.6%. W. W. Grainger has a forecast of $4 billion with an EPS of $8.37.

W. W. Grainger bears struggled to gain ground beyond the support zone around $677.72 with prices climbing $6.9 as bulls regained control.

Dover is trading at $138.76, its target level is $137.41

A convincing break of this target could pave the way for deeper losses.

Having fallen $5.2 in 6 days, more of the same from yesterday's session: after ending Thursday at $139.31, Dover declined to $137.67 yesterday before closing at $138.76, thereby losing 0.39% in total. Daily trading volume (824,004 shares) was slightly greater than the current multiday average of 725,984.