There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Microchip (MCHP) and CAE Inc (CAE) with bullish sentiments.
Microchip (MCHP)
Needham analyst Rajvindra Gill maintained a Buy rating on Microchip today and set a price target of $100. The company’s shares opened today at $72.02.
Gill observed:
“As part of Needham & Series, we hosted a call with Mr. COO, Mr. Eric Bjornholt, CFO and Mr. Solutions Group. We also discussed the recent tariff impact on MCHP’s business. In response to the tariffs, some of MCHP’s customers are deciding to build inventory before the tariff rate increases to 25% in January while others are taking a wait and see approach. Furthermore, many customers are transitioning their respective supply chains out of China to other countries in Asia and even Mexico.”
According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.6% and a 52.6% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.
Currently, the analyst consensus on Microchip is a Moderate Buy with an average price target of $98.10, representing a 36.2% upside. In a report issued on November 8, B.Riley FBR also maintained a Buy rating on the stock with a $100 price target.
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CAE Inc (CAE)
BMO Capital analyst Fadi Chamoun maintained a Buy rating on CAE Inc today. The company’s shares opened today at $20.04.
According to TipRanks.com, Chamoun is a top 100 analyst with an average return of 17.1% and a 79.5% success rate. Chamoun covers the Services sector, focusing on stocks such as Kansas City Southern, WestJet Airlines Ltd, and Union Pacific Corp.
CAE Inc has an analyst consensus of Strong Buy.
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