There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Inseego Corp (INSG) and Marvell (MRVL) with bullish sentiments.
Inseego Corp (INSG)
Canaccord Genuity analyst Michael Walkley maintained a Buy rating on Inseego Corp yesterday and set a price target of $6.50. The company’s shares opened today at $4.79.
Walkley commented:
“We believe Inseego management continues to execute on its product roadmap, providing us increased confidence that management will execute on its plans and deliver improving gross and adjusted EBITDA margins through new product introductions, ongoing cost discipline, and strong potential revenue growth opportunities as new platforms expand sales opportunities to additional carriers and geographies. We have adjusted our Q1/19 and full year 2019 estimates for the component shortage issue, but we believe it is now resolved as management is now dual-sourcing this component and the contract manufacturing has been successfully transitioned to Foxconn Taiwan.”
According to TipRanks.com, Walkley is a 5-star analyst with an average return of 11.2% and a 57.0% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Adesto Technologies Corp, and Sierra Wireless Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Inseego Corp with a $6.33 average price target, implying a 32.2% upside from current levels. In a report issued on March 1, Northland Securities also maintained a Buy rating on the stock with a $6 price target.
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Marvell (MRVL)
In a report released today, Ambrish Srivastava from BMO Capital maintained a Buy rating on Marvell, with a price target of $22. The company’s shares opened today at $18.65.
According to TipRanks.com, Srivastava is a 5-star analyst with an average return of 11.3% and a 71.7% success rate. Srivastava covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Synaptics Inc.
Marvell has an analyst consensus of Strong Buy, with a price target consensus of $23.26, which is a 24.7% upside from current levels. In a report issued on February 27, Susquehanna also reiterated a Buy rating on the stock with a $24 price target.
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