Change of direction? Restaurant Brands International Inc., LKQ Corp, Starbucks, among others, are approaching price targets.
Here's an update with information from the last trading session: Markets completed a mixed session Friday while Nasdaq was down 0.58% before closing the session at 11,800. Dow Jones ended the session at 33,827 after a 0.39% gain.
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_cyclical stocks and their price targets.
Buyers pushing Restaurant Brands International towards its price target of $67.96; currently at $67.52
The US fast food multinational went up to $67.52, gaining 1.53%. Friday's gains added to Restaurant Brands International's bullish trend that has lasted for 3 days so far, during which it increased a total of 41 cents. The day's trading volume totalled 1 million shares — slightly under the 21-day average of 1.27 million.
Having set a significant high of $68.48 7 days ago, the fast food restaurant company is trading 2.89% lower. The company's market cap currently stands at $30.42 billion with an average daily trading volume of 1.27 million shares. So far this year, it has been under-performing the Nasdaq by 7.05%.
Restaurant Brands International's run now faces a challenge at $67.96, which is only 44 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
Buyers pushing LKQ Corp towards its price target of $59.28; currently at $58.84
LKQ Corp's run now faces a challenge at $59.28, which is only 44 cents away from the line. Overcoming it might send the company towards their next major resistance line— this will surely be interesting to follow.
LKQ Corp has posted further gains as part of an 8 day trend that has already seen the stock gain $1.96. it was more of the same for LKQ Corp Friday — bullish sentiment helped the globally active automobile parts provider to hammer out a noteworthy $57.68 to $58.92 range Friday, and finally closing at $58.84 to end the session. Daily trading volume (1.58 million shares) increased, making up 115% of the 21-day average (1.37 million).
LKQ Corp is scheduled to announce earnings results Thursday. The consensus Earnings Per Share estimate is 0.84 and the consensus revenue estimate is $3 billion.
Starbucks (SBUX) Price target: $105.7 | Last price: $107.1 | Daily range: $106.23 – $107.46
A convincing break of this target could pave the way for deeper losses.
Having fallen $1.46 in 3 days, Friday's session continued down the same path: the coffee roaster and retailer has recovered almost all of its session losses after dipping down to $106.23 Friday. Daily trading volume (6.88 million shares) was slightly greater than the current multiday average of 6.48 million.