Read up on 3M, Caterpillar, CNH Industrial N.V. 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 Dow Jones closed at 33,128, a 0.86% change. S&P 500 was down 0.72% before closing the session at 4,061.22.
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 industrials stocks and their price targets.
3M's price target: $100.74 | Last close: $101.84 | Daily range: $100.76 – $103 | Off hours: $102.67
After ending Wednesday at $102.83, 3M declined to $100.76 yesterday before closing at $101.84, thereby losing 0.96% in total. 3M has dropped $3.39 over the past 5 days; yesterday's session continued this downtrend. The day's trading volume totalled 2.95 million shares — slightly under the 21-day average of 3 million.
The industry and consumer goods conglomerate has shed 13.21% over the past three months. Currently, the industry and consumer goods conglomerate has a market capitalization of $56.18 billion with an average daily volume of 3 million shares. So far this year, it has been under-performing the Dow Jones by 16.68%. 3M has a forecast of $7.49 billion with an EPS of $1.58.
$100.74 is only $1.1 away for 3M and might put a stop to its current downtrend.
Caterpillar's price target: $207.5 | Last close: $210.38 | Daily range: $209.33 – $216.93 | Off hours: $213.46
$207.5 is only $2.88 away for Caterpillar and might put a stop to its current downtrend.
Having fallen $3.16 in 5 days, yesterday's session continued down the same path: early in yesterday's session, Caterpillar dropped to $209.33 from $215.64 at the end of Wednesday, before closing at $210.38. During the session, it lost 2.44%.
Trading volume totalled 3.17 million which equates to around 98% of the stock's 21-day average yesterday.
CNH Industrial's price target: $13.44 | Last close: $13.63 | Daily range: $13.51 – $13.96 | Off hours: $13.43
After ending Wednesday at $13.97, CNH Industrial dropped to $13.51 early in yesterday's session and closed at $13.63. In total, it lost 2.43%. Yesterday's 2.43% loss extends a 5 day bearish run in which CNH Industrial had already lost 13 cents from its share value. Daily trading volume (5.84 million shares) increased, making up 121% of the 21-day average (4.81 million).
The Italian agricultural machinery business reached a significant high of $17.9 around 3 months ago but has lost 21.96% since then. The Italian equipment manufacturer's market cap currently stands at $18.24 billion with an average daily trading volume of 4.81 million shares. So far this year, it has been doing worse than the Nasdaq by 28.21%.
A persuasive break of this target could lead to higher losses.
CNH Industrial is trading in a $13.51 – $13.96 range prior to its earnings announcement.