There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on B&G Foods (NYSE:BGS) and Cadence Design (NASDAQ:CDNS) with bullish sentiments.
B&G Foods (BGS)
RBC Capital analyst David Palmer reiterated a Buy rating on B&G Foods yesterday and set a price target of $40. The company’s shares closed yesterday at $30.75.
According to TipRanks.com, Palmer is a 5-star analyst with an average return of 10.1% and a 68.3% success rate. Palmer covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Hain Celestial, and Pinnacle Foods.
Currently, the analyst consensus on B&G Foods is a Hold with an average price target of $27.
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Cadence Design (CDNS)
RBC Capital analyst Mitch Steves reiterated a Buy rating on Cadence Design yesterday and set a price target of $53. The company’s shares closed yesterday at $45.15, close to its 52-week high of $46.
According to TipRanks.com, Steves is a 5-star analyst with an average return of 25.9% and a 81.8% success rate. Steves covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Arista Networks, and ASML Holding.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cadence Design with a $53 average price target.
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