There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Crocs (CROX) and Itron (ITRI) with bullish sentiments.
Crocs (CROX)
In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Crocs, with a price target of $25. The company’s shares closed yesterday at $21.01, close to its 52-week high of $22.07.
Kummetz said:
“We believe that Crocs brand strength accelerated from 2Q to 3Q.”
According to TipRanks.com, Kummetz is a 3-star analyst with an average return of 2.5% and a 56.0% success rate. Kummetz covers the Services sector, focusing on stocks such as Foot Locker Inc, Shoe Carnival, and Genesco Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crocs with a $20 average price target, implying a -4.8% downside from current levels. In a report issued on October 22, Piper Jaffray also reiterated a Buy rating on the stock with a $23 price target.
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Itron (ITRI)
In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Itron, with a price target of $60. The company’s shares closed yesterday at $54.77.
Kaye commented:
“ITRI beat the 3Q18 earnings consensus estimate, but guided 4Q below consensus as supply chain constraints weighed on sales/margin outlook. We note smart grid peers and other buyers of passive components are facing similar constraints. Easing, in our view, appears unlikely through at least 1H19. While management anticipates a strong 4Q for bookings, current backlog growth trajectory and supply chain pressures lead us to trim FY18/19 estimates. Org. realignment positively increases focus on high-value networking/outcomes growth, and we continue to view ITRI as a market and technology leader in smart grid with a compelling self-help story. We believe supply chain headwinds could well abate over our investment horizon, but execution challenges remain. We reduce our price target to $60 (from $72).”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 4.1% and a 52.7% success rate. Kaye covers the Basic Materials sector, focusing on stocks such as Advanced Disposal Services Inc, Waste Connections Inc, and Republic Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Itron with a $73.60 average price target, representing a 34.4% upside. In a report issued on October 29, Canaccord Genuity also reiterated a Buy rating on the stock with a $84 price target.
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