There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on NetApp (NASDAQ: NTAP) and Qorvo (NASDAQ: QRVO) with bullish sentiments.
NetApp (NASDAQ: NTAP)
In a report released today, Mehdi Hosseini from Susquehanna assigned a Buy rating to NetApp (NASDAQ: NTAP), with a price target of $75. The company’s shares opened today at $68.08, close to its 52-week high of $72.85.
According to TipRanks.com, Hosseini is a 5-star analyst with an average return of 15.3% and a 55.9% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Universal Display, and Pure Storage Inc.
Currently, the analyst consensus on NetApp is Strong Buy and the average price target is $75.77, representing an 11.3% upside.
In a report issued on May 18, Loop Capital Markets also maintained a Buy rating on the stock with a $85 price target.
See today’s analyst top recommended stocks >>
Qorvo (NASDAQ: QRVO)
MKM Partners analyst Ruben Roy assigned a Buy rating to Qorvo (NASDAQ: QRVO) today and set a price target of $95. The company’s shares opened today at $81.23.
Roy wrote:
“We remain positive on QRVO shares given the company’s positioning in various markets that will require increasing RF content. We continue to view QRVO shares as attractively valued (10.9x our C2019 EPS estimates versus peer group average of 16.9x) and we believe that QRVO deserves a higher multiple given line of sight to margin improvement as BAW utilization is now set to ramp meaningfully later this year. Our 12-month price target of $95, is based on a 13x multiple on our calendar 2019 EPS estimate of $7.45.”
According to TipRanks.com, Roy is a 4-star analyst with an average return of 12.4% and a 65.8% success rate. Roy covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and Maxim Integrated.
Currently, the analyst consensus on Qorvo is Moderate Buy and the average price target is $83.92, representing a 3.3% upside.
In a report released today, Needham also assigned a Buy rating to the stock with a $85 price target.
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