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 Acacia Communications (NASDAQ:ACIA) with bullish sentiments.
Arista Networks (ANET)
Credit Suisse analyst Sami Badri reiterated a Buy rating on Arista Networks on August 3 and set a price target of $305. The company’s shares closed on Friday at $257.54.
Badri noted:
“We reiterate our Outperform rating and increase our target price to $305 (from $303).”
According to TipRanks.com, Badri is a 1-star analyst with an average return of -1.2% and a 52.6% success rate. Badri covers the Consumer Goods sector, focusing on stocks such as Motorola Solutions, Ubiquiti Networks, and CommScope Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Arista Networks with a $289.80 average price target, implying a 12.5% upside from current levels. In a report issued on August 2, Oppenheimer also assigned a Buy rating to the stock with a $330 price target.
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Acacia Communications (ACIA)
In a report issued on August 3, Ryan Koontz from Rosenblatt Securities maintained a Buy rating on Acacia Communications, with a price target of $46. The company’s shares closed on Friday at $37.93.
Koontz noted:
“We had modeled a stronger 2H18 than consensus, banking on both a ZTE (0763.HK: NR) comeback and strong growth in new CFP2 products, but the outlook was even stronger. We increase our 2019 estimates, raise our 12 -month price target to $46, and maintain our Buy rating on ACIA.”
According to TipRanks.com, Koontz is a 1-star analyst with an average return of -3.2% and a 0.0% success rate. Koontz covers the Consumer Goods sector, focusing on stocks such as CommScope Holding, Juniper Networks, and Ciena Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Acacia Communications with a $42.28 average price target, implying an 11.5% upside from current levels. In a report issued on July 31, William Blair also maintained a Buy rating on the stock.
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