Pactiv Evergreen Shares Rise Above Analyst Target Price of $18.00
Recently, shares of Pactiv Evergreen Inc (Symbol: PTVE) traded above the average 12-month analyst target price of $18.00, reaching $18.02 per share. When a stock meets the target set by analysts, they typically have two options: downgrade their outlook based on valuation, or raise their target price in response to the company’s positive developments. The decision of analysts can also hinge on any fundamental changes that led to the stock’s rise; if the company’s prospects are improving, an upward revision of the target price may be warranted.
Within the Zacks coverage universe, there are five different analyst targets contributing to the average price for Pactiv Evergreen Inc. It’s important to note that this average is merely a mathematical calculation; there are analysts who maintain lower targets, including one that reinforces the original $18.00 target. Conversely, another analyst has set a higher target at $18.00. Notably, the standard deviation among these predictions is $0.00.
The average price target of PTVE serves as a collective assessment derived from multiple analysts’ insights, rather than relying solely on a single expert’s viewpoint. With PTVE now trading slightly above the average target price of $18.00 per share, investors are prompted to reevaluate their positions. They may consider whether the $18.00 mark is simply a stepping stone toward a higher target or if the current valuation is stretched, signaling it might be prudent to lock in some profits.
| Recent PTVE Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Month Ago | 3 Month Ago |
| Strong buy ratings: | 0 | 0 | 0 | 1 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 5 | 5 | 5 | 4 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 3.0 | 3.0 | 3.0 | 2.6 |
The average rating shown in the table above ranges from 1 to 5, with 1 representing a Strong Buy and 5 indicating a Strong Sell. This article includes data sourced from Zacks Investment Research via Quandl.com. For the latest Zacks research report on PTVE, click here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
