Pay attention to the following consumer discretionary stocks approaching critical price targets: Home Depot, Starbucks, Booking Holdings are the ones to watch.
Here's an update with information from the last trading session: Leading equity indices in the US rose as Nasdaq ended the session at 11,079 after a 0.71% gain. S&P 500 closed the day at 3,999, having gained 0.4%.
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. Check out this rundown of consumer discretionary stocks and their price targets.
Home Depot's Price target: $333.73 | Last close: $331.21 | Daily range: $326 – $332.39 | Off hours: $331.21
Home Depot's run now faces a challenge at $333.73, which is only $2.52 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Home Depot has posted further gains as part of a 7 day trend that has already seen the stock gain $14.4. Home Depot pointed in the same direction Friday: generally flat but with a slight bullish bias, Home Depot ranged between $326 and $332.39 before closing higher at $331.21. Friday's trading volume was 2.80 million shares which is slightly below the 21-day average of 3.18 million.
Starbucks's Price target: $108 | Last close: $107.23 | Daily range: $105.07 – $107.3 | Off hours: $107.23
Bullish sentiment helped the famous coffee brand to hammer out a noteworthy $105.07 to $107.3 range Friday, and finally closing at $107.23 to end the session. Friday's gains added to Starbucks's bullish trend that has lasted for 5 days so far, during which it increased a total of $1.11. Trading volume totalled 5.53 million which equates to around 91% of the stock's 21-day average Friday.
The famous coffee brand has gained 6.44% since its lowest print of $69.9 earlier this year. The company has a market cap of $123 billion with an average daily volume of 6 million shares. The Nasdaq has been doing worse in 2022, it has been passing it by 0.15%. Starbucks has a forecast of $8.31 billion with an EPS of 73 cents.
Starbucks's recent run now faces a major challenge as concentrated supply is likely found at $108 with price action currently 77 cents away.
Starbucks disclosed a quarterly dividend of 53 cents per share on Friday, September 9th that was paid on Friday, November 25th to all shareholders of record up until Friday, November 11th. Based on current prices, the company's decision thereby provides Starbucks investors with an annual dividend yield of 1.98%.
Buyers pushing Booking Holdings towards its price target of $2,328.18; currently at $2,301.34
Booking Holdings's run now faces a challenge at $2,328.18, which is only $26.84 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Booking Holdings has posted further gains as part of a 12 day trend that has already seen the stock gain $297.93. on-trend Booking Holdings closed the session Friday with more of the same: pronounced bullish sentiment in the market helped the travel booking company to make a notable 1.97% gain Friday, rising $44.57 and ultimately closing at $2,301.34. The day's trading volume totalled 290,658 shares — slightly under the 21-day average of 301,712.