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Companies in the Consumer Goods sector have received a lot of coverage today as analysts weigh in on Itron (NASDAQ: ITRI) and Cognex Corp (NASDAQ: CGNX).
Itron (NASDAQ: ITRI)
In a report released yesterday, Chip Moore from Canaccord Genuity maintained a Buy rating on Itron (NASDAQ: ITRI), with a price target of $84. The company’s shares opened today at $59.85, close to its 52-week low of $56.70.
Moore said:
“With integration of a major competitor (Silver Spring Networks) now underway, we find conditions in place (conservative synergy assumptions, combined competitive positioning, attractive valuation, etc.) to once again become constructive on Itron. Investment highlights We recently hosted European investor meetings with CFO Joan Hooper and VP of Investor Relations Barbara Doyle. In sum, we come away with increased confidence in underlying demand trends, current integration/restructuring efforts, and the prospects for out-year earnings acceleration (i.e. towards $5+ in ’20 without aggressive assumptions). We reiterate our BUY rating.”
According to TipRanks.com, Moore is a 3-star analyst with an average return of 9.0% and a 68.0% success rate. Moore covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, SolarEdge Technologies, and Badger Meter.
Itron has an analyst consensus of Strong Buy, with a price target consensus of $87.
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Cognex Corp (NASDAQ: CGNX)
In a report released yesterday, Robert Burleson from Canaccord Genuity maintained a Hold rating on Cognex Corp (NASDAQ: CGNX), with a price target of $44. The company’s shares opened today at $46.87.
Burleson wrote:
“We attended IRCE (Internet Retailers Conference & Exhibition) this week in Chicago. While hardware solutions were not the show’s focus, our discussions with several automation systems OEMs and integrators, as well as our tour of the Cognex booth, yielded several positive takeaways for CGNX’s warehouse and logistics business. First, labor tightness has made the warehouse automation decision less ROI based and more urgent, with systems integrators telling us their customers now view automation as necessary for survival going forward. Second, demand is strengthening for emerging solutions that utilize CGNX vision and barcode reading technology, including robotic pick and place solutions and automated small item sortation systems.”
According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.3% and a 61.1% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.
Cognex Corp has an analyst consensus of Hold, with a price target consensus of $45.25.
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