There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on CSW Industrials (NASDAQ: CSWI) and Marvell (NASDAQ: MRVL) with bullish sentiments.
CSW Industrials (CSWI)
In a report released today, Liam Burke from B.Riley FBR maintained a Buy rating on CSW Industrials, with a price target of $60. The company’s shares closed yesterday at $53.10.
Burke said:
“We had CSW Industrials (CSWI) management meet with our clients to outline the company’s outlook after the anticipated divestiture of Strathmore, its chemical coatings business. With the consolidation from three to two operating segments, CSW is a diversified industrial company providing value-added, niche products into narrowly defined markets operating on a more simplified platform. The company has identified strong underlying growth trends in areas such as HVAC and a solid flow of new innovative products that should position the business to grow revenue at mid-single-digit rates.”
According to TipRanks.com, Burke is a 3-star analyst with an average return of 2.5% and a 56.2% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Standex International Corp, Westinghouse Air, and Nordson Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for CSW Industrials with a $60 average price target.
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Marvell (MRVL)
B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Marvell yesterday and set a price target of $30. The company’s shares closed yesterday at $21.77.
Ellis wrote:
“Thursday pre-market, 6/28, MRVL announced Regulation (SAMR) approved its previously announced CAVM acquisition. MRVL also signaled a July deal close expectation, the final month of F2Q19. Shares, recently pressured by broad- based market volatility to levels within 5% of deal announcement, rose, 7% in a weak tape. If MCHP’s Microsemi deal precedent holds, timing to close should be around two weeks, meaning CAVM could contribute two weeks to F2Q before a full quarter in F3Q. We believe the announcement is important for four reasons. First, close occurs within the mid-year window CEO Murphy and CFO Hu have previously telegraphed.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 36.9% and a 78.1% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Applied Materials, and Brooks Automation.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $28.55 average price target, which is a 31.1% upside from current levels. In a report issued on June 26, Evercore ISI also initiated coverage with a Buy rating on the stock with a $27 price target.
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