There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Broadcom (NASDAQ:AVGO) and Emcore Corp (NASDAQ:EMKR) with bullish sentiments.
Broadcom (AVGO)
Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Broadcom today. The company’s shares opened today at $248.39.
Rakesh noted:
“We believe multiple tailwinds into 2019-20 with the CA acquisition mostly behind, AI ASICs, regaining RF share, 5G ramps with wireless/Networking, strong FCF and dividend growth positions AVGO well. AVGO provides an attractive opportunity given a dominant market share, ~$6B in buybacks remaining, $8B+ of ~3%+ dividend yield. Reiterating our Buy and raising PT to $295. The shares trade at a conservative ~ 11x F19E EPS.”
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 24.2% and a 62.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $286.71, which is a 15.4% upside from current levels. In a report issued on September 25, Piper Jaffray also reiterated a Buy rating on the stock with a $293 price target.
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Emcore Corp (EMKR)
In a report released today, Dave Kang from B.Riley FBR reiterated a Buy rating on Emcore Corp, with a price target of $6. The company’s shares opened today at $5.03, close to its 52-week low of $4.40.
According to TipRanks.com, Kang is a 5-star analyst with an average return of 19.0% and a 66.1% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Acacia Communications, and Lumentum Holdings.
Emcore Corp has an analyst consensus of Moderate Buy, with a price target consensus of $5.67, implying a 12.7% upside from current levels. In a report released today, Lake Street also reiterated a Buy rating on the stock with a $6 price target.
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