Pay attention to the following consumer staples stocks approaching critical price targets: Target, Kraft Heinz Co, PepsiCo are the ones to watch.
Here's an update with information from the last trading session: Markets did not have a clear cut direction — Dow Jones gained 0.28% and closed at 32,850. S&P 500 closed 3,821.62 after a stable 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. Let's review some consumer staples stocks and their price targets.
Target's price target: $141.71 | Last close: $143.25 | Daily range: $142.45 – $143.96 | Off hours: $143.25
Target's bearish trend is facing a possible turning point at $141.71, which is only $1.54 away. Will be interesting to follow.
Having fallen $7.86 in 5 days, more of the same from yesterday's session: the retail corporation has recovered almost all of its session losses after dipping down to $142.45 yesterday. The day's trading volume totalled 3.10 million shares — slightly under the 21-day average of 4.63 million.
Kraft Heinz's price target: $39.5 | Last close: $39.79 | Daily range: $39.48 – $40.05 | Off hours: $39.79
After ending Monday at $40.11, Kraft Heinz dropped to $39.48 early in yesterday's session and closed at $39.79. In total, it lost 0.8%. Continuing its a 7 day bearish run (-17 cents), Kraft Heinz showed losses yesterday. Yesterday's trading volume was 5.40 million shares which is slightly below the 21-day average of 5.96 million.
Having set a significant low of $32.95 2 months ago, the condiments and sauces company is trading 21.73% higher. Kraft Heinz is currently trading with a market cap of $48.74 billion with an average daily trading volume of 5.96 million shares. The Nasdaq has been doing worse in 2022, it has been passing it by 60.13%. $6.50 billion was Kraft Heinz's last reported revenue with 65 cents being the current EPS.
A convincing break of this target could pave the way for deeper losses.
PepsiCo's price target: $180.5 | Last close: $181.23 | Daily range: $180.66 – $182.25 | Off hours: $181.23
Without a clear direction, PepsiCo closed at $181.23 while ranging between $180.66 and $182.25. While mostly sideways today, PepsiCo is on a 7 day bearish trend during which it lost $2.63. Yesterday's trading volume was 3.25 million shares which is below the 21-day average of 5 million.
Over the past 20 days, the renowned fizzy drink supplier has retreated 2.45% from a noteworthy peak of $185.9. PepsiCo's market cap currently stands at $249.68 billion with an average daily volume of 5 million shares. So far in 2022 it has been beating the Nasdaq by 54.89%. PepsiCo's last revenue report was $21.97 billion with an EPS of $1.97.
$180.5 is only 73 cents away for PepsiCo and might put a stop to its current downtrend.