Analysts Are Bullish on These Consumer Goods Stocks: Constellation Brands Inc (STZ), Broadcom (AVGO)


There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Constellation Brands Inc (STZ) and Broadcom (AVGO) with bullish sentiments.

Constellation Brands Inc (STZ)

Barclays analyst Lauren Lieberman maintained a Buy rating on Constellation Brands Inc yesterday and set a price target of $211. The company’s shares opened today at $171.48.

According to TipRanks.com, Lieberman is a 1-star analyst with an average return of -0.4% and a 49.5% success rate. Lieberman covers the Consumer Goods sector, focusing on stocks such as International Flavors & Fragrances, Coca-Cola European Partners plc, and Edgewell Personal Care.

Currently, the analyst consensus on Constellation Brands Inc is a Moderate Buy with an average price target of $206.07, implying a 20.2% upside from current levels. In a report issued on March 6, Credit Suisse also initiated coverage with a Buy rating on the stock with a $230 price target.

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Broadcom (AVGO)

In a report released today, Rick Schafer from Oppenheimer maintained a Buy rating on Broadcom, with a price target of $315. The company’s shares opened today at $286.46, close to its 52-week high of $296.91.

Schafer commented:

“Broadcom reported F1Q:19 (Jan.) earnings Thursday. Sales of $5.79B were in line with “unguided” consensus, while EPS of $5.55 easily topped the Street’s $5.22E as mgmt executes its time-tested M&A playbook. Mgmt astutely factored macro uncertainty and ongoing semi cycle correction into annual guidance last quarter and reaffirmed $24.5B guidance…much to investors’ relief. GM expanded 300bps Q/Q to 71.4%, largely due to the addition of CA. DC networking business grew strong DD(%) Y/Y, offsetting expected declines in Wireless and storage. Mgmt sees the Semi segment bottoming in F2Q (Apr.) with a 2H recovery led by new wireless and networking products. Its diversification strategy appears to be bracing AVGO from macro/cycle headwinds. With AVGO our top emerging capital-allocation story, we reiterate our Outperform and $315 target.”

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 14.7% and a 70.1% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Akoustis Technologies, Skyworks Solutions, and Texas Instruments.

Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $305.05, representing a 6.5% upside. In a report issued on March 6, Susquehanna also maintained a Buy rating on the stock with a $320 price target.

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