There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Arista Networks (NYSE:ANET) and Trimble Navigation Limited (NASDAQ:TRMB) with bullish sentiments.
Arista Networks (ANET)
Oppenheimer analyst Ittai Kidron maintained a Buy rating on Arista Networks today and set a price target of $330. The company’s shares closed yesterday at $240.96.
Kidron commented:
“Arista reported strong quarterly results, easily topping revenue and EPS estimates, and provided a strong outlook for 4Q18 pointing to continued strong momentum. Positive commentary focused on broad-based demand across the key verticals (cloud, cloud specialty/hosting, enterprise, financials, and service providers), technology advancement (400G and Campus), recent acquisitions (Mojo and Metamako), and the impact of tariffs on demand/pricing (3.3% global tariff adder, to be mitigated through 2019). Overall, we believe the company continues to execute at a high level, build a strong product pipeline (Campus, wireless, and 400G), and maneuver through a competitive environment. Adjusting estimates for results and guidance while maintaining our $330 price target. Maintain Outperform.”
Kidron has an average return of 76.1% when recommending Arista Networks.
According to TipRanks.com, Kidron is ranked #32 out of 4908 analysts.
Arista Networks has an analyst consensus of Moderate Buy, with a price target consensus of $296.59, which is a 23.1% upside from current levels. In a report issued on October 22, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $275 price target.
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Trimble Navigation Limited (TRMB)
In a report released today, Colin Rusch from Oppenheimer maintained a Buy rating on Trimble Navigation Limited, with a price target of $52. The company’s shares closed yesterday at $38.05.
Rusch observed:
“TRMB posted in-line revenue with EPS above consensus on mix shifting toward Software/Services revenue and improving operating leverage. While top-line guidance was below consensus, EPS was above, which we believe is the result of improving mix. We believe TRMB’s complete end-to-end solutions and data-mining expertise are driving material share gains in high-value applications. We expect there will be some confusion on results due to restatements and revenue growth guide slightly below 4Q:18 expectations. We continue to see TRMB as a play on efficiency and sustainability in large economic segments. We remain constructive and reiterate our $52 PT.”
According to TipRanks.com, Rusch is a 4-star analyst with an average return of 8.7% and a 47.9% success rate. Rusch covers the Industrial Goods sector, focusing on stocks such as Capstone Turbine Corp, Canadian Solar Inc, and Fuelcell Energy.
Trimble Navigation Limited has an analyst consensus of Moderate Buy, with a price target consensus of $52.
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