Analysts Offer Insights on Consumer Goods Companies: Ferroglobe PLC (PSTG) and Pure Storage Inc (PSTG)

Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Ferroglobe PLC (NASDAQ: GSM) and Pure Storage Inc (NYSE: PSTG).

Ferroglobe PLC (NASDAQ: GSM)

In a report released today, Ian Zaffino from Oppenheimer maintained a Buy rating on Ferroglobe PLC (NASDAQ: GSM), with a price target of $16. The company’s shares closed yesterday at $11.35.

Zaffino wrote:

“Helped by strong pricing and demand, 1Q18 adjusted EBITDA of $89.6M handily beat our/Street’s $77M/$84M. US SiM prices have remained firm at $1.40-$1.43/lb., vs. $1.43-$1.45/lb. on March 22nd, just prior to the ITC ruling. FeSi prices in China/ Europe have declined ~4.3%/8.7% since EOQ1, as China exits its dry season and ramps production. We believe quarterly EBITDA will remain consistent with 1Q18 for the remainder of the year, as improving Manganese Alloy shipments and a full contribution from Glencore offset the seasonal price declines in FeSi. Lower FY18E EBITDA to $380M, from $426M, as we annualize 1Q18 results. Maintain Outperform.”

According to TipRanks.com, Zaffino is a 4-star analyst with an average return of 3.2% and a 57.7% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Peak Resorts, and Six Flags.

Currently, the analyst consensus on Ferroglobe PLC is Strong Buy and the average price target is $17.50, representing a 54.2% upside.

In a report issued on May 18, B.Riley FBR also reiterated a Buy rating on the stock with a $20 price target.

See today’s analyst top recommended stocks >>

Pure Storage Inc (NYSE: PSTG)

Robert W. Baird analyst Jayson Noland maintained a Hold rating on Pure Storage Inc (NYSE: PSTG) today and set a price target of $25. The company’s shares closed yesterday at $23.58, close to its 52-week high of $24.31.

Noland noted:

“We expect management to offer a bullish message at the analyst day this Wednesday in SF.”

According to TipRanks.com, Noland is a 5-star analyst with an average return of 17.6% and a 63.2% success rate. Noland covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Juniper Networks.

Currently, the analyst consensus on Pure Storage Inc is Strong Buy and the average price target is $24.09, representing a 2.2% upside.

In a report issued on May 15, Susquehanna also maintained a Hold rating on the stock with a $22 price target.

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