Analysts Offer Insights on Consumer Goods Companies: AeroVironment (GLW) and Corning Inc (GLW)


Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on AeroVironment (NASDAQ: AVAV) and Corning Inc (NYSE: GLW).

AeroVironment (NASDAQ: AVAV)

Canaccord Genuity analyst Kenneth Herbert maintained a Hold rating on AeroVironment (NASDAQ: AVAV) today and set a price target of $50. The company’s shares opened today at $58.64, close to its 52-week high of $62.20.

Herbert observed:

“We like this pure play move for AVAV since it allows AVAV to focus on its core businesses (Unmanned Tactical Missile Systems, and its emerging commercial growth opportunities), which have relatively stronger growth prospects and opportunities than the legacy EES business. We believe the legacy EES business is very competitive and is likely to face increased pricing pressure from greater competition. Finally, while AVAV has been a leader in EES technology, its lack of broader exposure to this market limited potential synergies and benefits from other touch points with the automotive and industrial charging markets. This divestiture would free up resources, relieve margin pressure, add cash to its balance sheet, and allow AVAV to focus on UAS/TMS/commercial markets.”

According to TipRanks.com, Herbert is a 5-star analyst with an average return of 12.2% and a 63.9% success rate. Herbert covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, CPI Aerostructures, and Spirit AeroSystems.

AeroVironment has an analyst consensus of Moderate Buy, with a price target consensus of $54.33.

See today’s analyst top recommended stocks >>

Corning Inc (NYSE: GLW)

Guggenheim analyst Rob Cihra maintained a Buy rating on Corning Inc (NYSE: GLW) today and set a price target of $35. The company’s shares opened today at $28.

Cihra observed:

“We continue to forecast a re-acceleration in GLW’s revenue growth and margin leverage in 2H18E as it ramps new 10.5G LCD Display glass, Optical fiber and Auto filters capacity. Reiterate BUY.”

According to TipRanks.com, Cihra is a 4-star analyst with an average return of 6.5% and a 52.0% success rate. Cihra covers the Consumer Goods sector, focusing on stocks such as Western Digital, Seagate Tech, and Netgear.

Currently, the analyst consensus on Corning Inc is Moderate Buy and the average price target is $34.50, representing a 23.2% upside.

In a report issued on May 31, Morgan Stanley also upgraded the stock to Buy with a $34 price target.

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