When I bought Zebra Technologies (ZBRA) back on June 28, 2021, I thought the stock was moderately over-valued. But that, like many over-valued stocks with momentum, it would move higher. I set a target price then of $596 a share.
Well, moderately over-valued has become more seriously over-valued. Morningstar calculates that the stock traded at a 37% premium before the 2.79% gain today, November 29.
At today’s close of $607.20 Zebra Technologies is now well above my June target price. Stocks are getting more volatile as we approach the end of the year and I anticipate that 2022 will be a tougher year than 2021 for the U.S. economy and the financial markets.
I will sell Zebra Technologies out of my Jubak Picks Portfolio tomorrow with a 15.2% gain since that June 28 buy.