Analysts have been eager to weigh in on the Conglomerates sector with new ratings on HC2 Holdings (HCHC) and Canadian Solar Inc (CSIQ).
HC2 Holdings (HCHC)
In a report released today, Sarkis Sherbetchyan from B.Riley FBR reiterated a Buy rating on HC2 Holdings, with a price target of $13.50. The company’s shares opened today at $5.33.
Sherbetchyan wrote:
“PT) reports 3Q18 results after market close on Wednesday, 11/7, and will host its EPS call at 5:00pm ET (dial-in: ID: 1949939). We revise our 3Q18 estimates for HCHC’s core operating subsidiaries (construction, marine services, energy, and telecom) to reflect the midpoint of HCHC’s 10/22 preannouncement. Our revised expectations for HCHC’s core operating subsidiaries are shown in Segment Level Estimates on page 3 of this report. We are the only analyst with published estimates.”
According to TipRanks.com, Sherbetchyan is a 4-star analyst with an average return of 5.7% and a 48.4% success rate. Sherbetchyan covers the Consumer Goods sector, focusing on stocks such as Lightpath Technologies, Vishay Precision Group, and S&W Seed Company.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for HC2 Holdings with a $13.50 average price target.
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Canadian Solar Inc (CSIQ)
In a report released yesterday, Carter Driscoll from B.Riley FBR maintained a Hold rating on Canadian Solar Inc, with a price target of $17. The company’s shares opened today at $13.78.
Driscoll said:
“We base our $17 price target on an EV-to-EBITDA multiple of ~7.0x our 2019 EBITDA estimate of $330 million. Risks Cost overruns and project delays in executing projects from the Canadian pipeline. Canadian Solar has a large 22 GW-plus pipeline globally with multiple projects that are being constructed over the next several years. Any delay in developing these projects, or delay in final testing and certification, could potentially lower revenues and profitability from these projects. Delays in project sales leading to increased working-capital commitment. While Canadian Solar receives prepayments and milestone payments for most of its projects, any decrease in external funding sources could have a negative impact on working capital. Increased competition from local and larger conglomerates in winning new projects in China, Japan, and Brazil.”
According to TipRanks.com, Driscoll has 0 stars on 0-5 star ranking scale with an average return of -8.6% and a 34.6% success rate. Driscoll covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Amer Superconductor, and Fuelcell Energy.
The word on The Street in general, suggests a Hold analyst consensus rating for Canadian Solar Inc with a $16.25 average price target.
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