Read up on General Mills Inc, Oatly Group AB, Target as they approach key price targets in the near term.
Here's an update with information from the last trading session: Markets closed higher Friday, 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. Let's review some consumer staples stocks and their price targets.
General Mills's price target: $82.23 | Last close: $82.51 | Daily range: $82.32 – $82.97 | Off hours: $82.51
A quiet day for General Mills Inc as it remained range-bound within a $82.32 – $82.97 range before closing at $82.51. While mostly sideways today, General Mills is on a 6 day bearish trend during which it lost $3.43. Friday's trading volume was 3.44 million shares which is slightly below the 21-day average of 3.54 million.
Having set a significant high of $87.55 a month ago, the consumer foods giant is trading 5.73% lower. The company has a market cap of $48.65 billion with an average daily trading volume of 3.54 million shares. So far in 2022, it has been under-performing the S&P 500 by 5.24%. General Mills last reported revenue of $5.22 billion with an EPS of $1.1.
$82.23 is only 28 cents away for General Mills and might put a stop to its current downtrend.
Just recently, General Mills's board disclosed a quarterly dividend of 54 cents per share to be paid on Wednesday, February 1st for all shareholders of record up until Tuesday, January 10th. Based on current prices, the company's decision thereby provides General Mills investors with an annual dividend yield of 2.62%.
Oatly's price target: $2.42 | Last close: $2.52 | Daily range: $2.48 – $2.73 | Off hours: $2.52
A persuasive break of this target could lead to higher losses.
Having fallen 10 cents in 3 days, Friday's session continued down the same path: after a mostly steady day, the Swedish food company lost 4.91% deep into the session, closing at $2.52. Friday's trading volume was 3.50 million shares which is under the 21-day average of 6.52 million.
Target's Price target: $166.64 | Last close: $164.6 | Daily range: $159.13 – $164.93 | Off hours: $164.6
Target's run now faces a challenge at $166.64, which is only $2.04 away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Target has posted further gains as part of a 4 day trend that has already seen the stock gain $3.78. it was more of the same for Target Friday — an influx of buyers helped the multi-national retailer to end the session higher around $164.6, while establishing a $159.13 to $164.93 session range Friday. Daily trading volume (5.12 million shares) increased, making up 135% of the 21-day average (3.81 million).