There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Broadcom Ltd (NASDAQ: AVGO) and Church & Dwight (NYSE: CHD) with bullish sentiments.
Broadcom Ltd (NASDAQ: AVGO)
In a report released today, Harsh Kumar from Piper Jaffray initiated coverage with a Buy rating on Broadcom Ltd (NASDAQ: AVGO) and a price target of $293. The company’s shares closed yesterday at $228.39, close to its 52-week low of $219.77.
Kumar said:
“Piper Jaffray analyst Harsh Kumar started Broadcom with an Overweight rating and $293 price target. The company is trading at an attractive valuation and has a leadership position in several key franchises that provide a superior return, Kumar tells investors in a research note. Broadcom has put together one of the industrys best financial models, the analyst contends.”
According to TipRanks.com, Kumar is a 4-star analyst with an average return of 10.9% and a 57.1% success rate. Kumar covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Integrated Device Tech, and Cypress Semicon.
Currently, the analyst consensus on Broadcom Ltd is Strong Buy and the average price target is $320.86, representing a 40.5% upside.
In a report issued on April 13, Nomura also reiterated a Buy rating on the stock with a $300 price target.
See today’s analyst top recommended stocks >>
Church & Dwight (NYSE: CHD)
Oppenheimer analyst Rupesh Parikh assigned a Buy rating to Church & Dwight (NYSE: CHD) today and set a price target of $54. The company’s shares closed yesterday at $45.46.
Parikh observed:
“CHD will report results on 5/3. Since 4/17, shares are down 10% vs. a 1% decrease in the S&P 500 and an average decline of 8% for peers. We continue to feel comfortable with our top- and bottom-line estimates for CHD. As we sift through recent data points, we believe management guidance has incorporated many of the industry headwinds within the full-year outlook and believe the company is much better positioned vs. domestic peers to adapt to an evolving US retail backdrop. Rising interest rates remain a risk to our call on an absolute basis, but we continue to believe CHD will remain a positive outlier within the CPG universe. EL and CHD remain our top consumer staples picks.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.8% and a 61.8% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
Currently, the analyst consensus on Church & Dwight is Hold and the average price target is $50.63, representing an 11.4% upside.
In a report issued on April 16, Jefferies also assigned a Buy rating to the stock with a $58 price target.
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