There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Infinera (NASDAQ: INFN) and Corning Inc (NYSE: GLW) with bullish sentiments.
Infinera (NASDAQ: INFN)
In a report released today, Dmitry Netis from William Blair maintained a Buy rating on Infinera (NASDAQ: INFN). The company’s shares opened today at $9.35.
Netis observed:
“We believe there are three factors driving concern with investors, including: 1) pricing pressure, 2) deceleration of cable expected in second half of 2018, and 3) potential consolidation of European customer base. We believe the sell-off today is overdone and recommend that investors take advantage. We believe the valuation remains attractive at 1.5 times 2019 EV/sales, given above-market growth rate, the new product cycle ramp-up, and margin expansion opportunity . Shares trade below their three- year forward EV/sales average of 1.8 times.”
According to TipRanks.com, Netis is a 4-star analyst with an average return of 8.9% and a 55.4% success rate. Netis covers the Consumer Goods sector, focusing on stocks such as Ribbon Communications Inc, Acacia Communications, and Juniper Networks.
Currently, the analyst consensus on Infinera is Moderate Buy and the average price target is $12.29, representing a 31.4% upside.
In a report released today, Drexel Hamilton also maintained a Buy rating on the stock with a $13 price target.
See today’s analyst top recommended stocks >>
Corning Inc (NYSE: GLW)
Guggenheim analyst Rob Cihra maintained a Buy rating on Corning Inc (NYSE: GLW) today and set a price target of $35. The company’s shares opened today at $27.36, close to its 52-week low of $26.31.
Cihra commented:
“We toured GLW’s advanced glass technology manufacturing and development facility in Harrodsburg, KY, which was the site of its original Gorilla Glass development for the iPhone in 2007 (and every generation since). Its mixing, melting and forming processes leverage GLW’s 1) unique glass compositions and 2) proprietary fusion process that we believe have kept it the industry’s highest-tech and lowest-cost producer across both display and cover glass.”
According to TipRanks.com, Cihra is a 4-star analyst with an average return of 5.9% and a 50.0% success rate. Cihra covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Western Digital, and Seagate Tech.
Corning Inc has an analyst consensus of Moderate Buy, with a price target consensus of $34.67.
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