There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Iteris (ITI) and Adesto Technologies Corp (IOTS) with bullish sentiments.
Iteris (ITI)
Northland Securities analyst Michael Latimore reiterated a Buy rating on Iteris today and set a price target of $9. The company’s shares closed yesterday at $5.15.
According to TipRanks.com, Latimore is a 5-star analyst with an average return of 12.1% and a 52.7% success rate. Latimore covers the Technology sector, focusing on stocks such as Super League Gaming Inc, The Meet Group Inc, and Brightcove Inc.
Currently, the analyst consensus on Iteris is a Moderate Buy with an average price target of $9, representing a 74.8% upside. In a report released today, JMP Securities also maintained a Buy rating on the stock with a $10 price target.
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Adesto Technologies Corp (IOTS)
In a report released today, Gus Richard from Northland Securities maintained a Buy rating on Adesto Technologies Corp, with a price target of $9. The company’s shares closed yesterday at $7.45.
Richard observed:
“We have increased confidence in our revenue estimates for IOTS due to low exposure to China, AirPods2 ramp and modest growth assumptions for IOTS recent acquisitions. In addition, if IOTS refinances its debt at a reasonable interest rate of 5% it could drive $0.07/yr of earnings. Our concerns are macro driven demand weakness and higher mix of Apple revenue could put some pressure on GMs. Recent acquisition activity argues for a higher multiple. Maintain OP and $9 PT. Business: IOTS NOR Flash product is designed into the Apple Airpod2. We estimate IOTS revenue from this design win will between $17M and $22M in CY19. We derive our estimate in 2 ways first we would estimate the rest of IOTS memory business will be down 10%, excluding this new design win. The company guided memory revenue to be in the range of $75M to $80M.”
According to TipRanks.com, Richard is a 5-star analyst with an average return of 21.5% and a 62.0% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Quantenna Communications, Akoustis Technologies, and Axcelis Technologies.
Currently, the analyst consensus on Adesto Technologies Corp is a Strong Buy with an average price target of $9.38.
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