Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Broadcom (AVGO), ID Systems (IDSY) and Celsius Holdings Inc (CELH).
Broadcom (AVGO)
In a report released yesterday, Craig Ellis from B.Riley FBR maintained a Hold rating on Broadcom, with a price target of $250. The company’s shares opened today at $228.25.
Ellis said:
“We see five key takeaways which in aggregate tilt positively, though fresh late-2018 AAPL iPhone unit build plan concerns (source: Nikkei) are weighing on Wireless Comms segment revenue confidence and thus AVGO shares, which are off 2.3% versus a -1.5% SOX decline following last week’s +8.8% rally. We will update our AVGO forecasts for CAT closer to or immediately following 12/6’s results but note previously pegged potential F19&20 EPS accretion was an impressive $2.76 and $4.77, respectively (7/12’s “Move As CA Ops Uncertainty…”). That lends attractive eventual dividend pay-out and upside dividend yield pressure for shares.”
According to TipRanks.com, Ellis is a top 100 analyst with an average return of 24.2% and a 62.2% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Axcelis Technologies, and Rudolph Technologies.
Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $285.65.
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ID Systems (IDSY)
In a report released today, Josh Nichols from B.Riley FBR maintained a Buy rating on ID Systems, with a price target of $8.50. The company’s shares opened today at $5.96.
Nichols commented:
“Buy-rated I.D. Systems (IDSY , $8.50 PT) reports 3Q results, after the close, on Thursday, 11/8, call at 4:45PM ET (Dial-in: We model $12.1M in revenue and $0.02 pro forma EPS relative to consensus of $12.3M and $0.02, respectively. Avis’ (CAR) deployment of 50k in- vehicle wireless rental fleet units commenced in February, and we model the last 9k units of Platform (UTP) deployed in 3Q following the 28k units shipped in 2Q and 13k units in 1Q. Exclusivity expired in July, but IDSY’s management has remained in active negotiations with Avis, which has a 5.7% ownership stake in IDSY . Avis has been consistent in its messaging that it is looking to create a fully connected fleet by 2020, but the rental car company has a history of being slow off the line.”
According to TipRanks.com, Nichols is a 4-star analyst with an average return of 14.6% and a 40.2% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Immersion Corp.
ID Systems has an analyst consensus of Strong Buy, with a price target consensus of $9.03.
Celsius Holdings Inc (CELH)
In a report released today, Jeff Van Sinderen from B.Riley FBR maintained a Buy rating on Celsius Holdings Inc, with a price target of $7. The company’s shares opened today at $3.99.
Van Sinderen commented:
“CELH reports 3Q results AMC on 11/8. Increased distribution through new domestic channels including CVS and Target (positive trend) should underpin a solid 3Q in domestic. We expect to see an increasing door count in the U.S. Our sense is that business in the Nordic countries continued to work through the transitional period of inventory re-balancing, following the label change earlier in the year and should be approaching a normalized run rate going forward (underlying demand/sell-throughs remain solid). The brand is in one hypermarket in Finland and is hoping to get into another, as well as a hypermarket in Norway and additional stores in Norway and Denmark (growth should be modest, yet steady in those smaller countries). China continues to be a learning process as well as an opportunity.”
According to TipRanks.com, Sinderen is a 1-star analyst with an average return of -1.0% and a 43.1% success rate. Sinderen covers the Services sector, focusing on stocks such as Tuesday Morning, Tilly’s Inc, and Kirkland’s.
Celsius Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $7.50.
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