There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Ciena Corp (CIEN) and Ambarella (AMBA) with bullish sentiments.
Ciena Corp (CIEN)
In a report released today, Tim Savageaux from Northland Securities maintained a Buy rating on Ciena Corp, with a price target of $42. The company’s shares closed yesterday at $35.63.
Savageaux wrote:
“We recently upgraded the shares (The Last Speed/Feed Battle in Coherent Optics? Upgrading to OP on Recent Underperformance, 800G Prospects- 4/15/19) a couple dollars higher in conjunction with a deep dive on emerging 600/800G technologies and post significant underperformance relative to ACIA given market share concerns ande reiterate our OP rating and $42 PT heading into Thursday AM’s report.”
According to TipRanks.com, Savageaux is a 2-star analyst with an average return of 0.3% and a 44.9% success rate. Savageaux covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, DASAN Zhone Solutions Inc, and Applied Optoelectronics.
Ciena Corp has an analyst consensus of Moderate Buy, with a price target consensus of $45.45.
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Ambarella (AMBA)
In a report released today, Gus Richard from Northland Securities maintained a Buy rating on Ambarella, with a price target of $45. The company’s shares closed yesterday at $39.75.
According to TipRanks.com, Richard is a 5-star analyst with an average return of 22.4% and a 64.2% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Quantenna Communications, and Akoustis Technologies.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Ambarella with a $48 average price target, a 20.8% upside from current levels. In a report issued on May 22, Morgan Stanley also reiterated a Buy rating on the stock with a $52 price target.
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