Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Intevac (NASDAQ: IVAC) and Horizon Global (NYSE: HZN).
Intevac (NASDAQ: IVAC)
In a report released yesterday, Craig Ellis from B.Riley FBR maintained a Hold rating on Intevac (NASDAQ: IVAC), with a price target of $6.50. The company’s shares closed yesterday at $4.90, close to its 52-week low of $4.51.
Ellis commented:
“We had modeled one 200 lean system in 2H18 and four-five systems in C19. So, the order means 2H18 is tracking our estimates while covering 45% of our C19 segment forecast to shed further light on next year’s revenue streams which include 6 ENERGi systems worth ~$11.0M. That’s a moderate cash generation plus. So, legacy HDD thin film equipment orders are consistent with the most recent results update. More broadly, we continue to believe the Vertex technology offers an interesting value proposition though acknowledge it’s a 2019 event. In sum, a nice order to support our C18 estimates of $100.4M(-11.0%)/(-$0.27) while providing further C19 estimate visibility into our $120.5M(+20.0%)/$0.17 forecasts. Ahead, we will meet with IVAC mgmt on 7/11 at SEMICON West in San Francisco. Shares remain rated Neutral. Recalled to update incorrect data in previous note.”
According to TipRanks.com, Ellis is a top 25 analyst with an average return of 39.5% and a 83.6% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Applied Materials, and Brooks Automation.
Intevac has an analyst consensus of Hold, with a price target consensus of $6.50.
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Horizon Global (NYSE: HZN)
B.Riley FBR analyst Josh Nichols maintained a Buy rating on Horizon Global (NYSE: HZN) yesterday and set a price target of $12.50. The company’s shares closed yesterday at $7.41, close to its 52-week low of $5.13.
Nichols said:
“We will publish an updated model in the coming days that excludes Brink and is reflective of some ongoing headwinds.”
According to TipRanks.com, Nichols is a 5-star analyst with an average return of 35.9% and a 61.7% success rate. Nichols covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, Pointer Telocation Ltd, and Kemet Corp.
Horizon Global has an analyst consensus of Moderate Buy, with a price target consensus of $9.50.
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