There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Koppers Holdings Inc (NYSE:KOP) and LKQ Corp (NASDAQ:LKQ) with bullish sentiments.
Koppers Holdings Inc (KOP)
In a report released today, Christopher Howe from Barrington maintained a Buy rating on Koppers Holdings Inc, with a price target of $61. The company’s shares closed yesterday at $26.45, close to its 52-week low of $25.64.
Howe commented:
“We expect profitability to improve over time as the company leverages its vertical integration advantage, improves its self-sufficiency and realizes revenue synergies from its recent acquisitions. Excluding further acquisitions, the company plans to reduce pro-forma net debt to approximately 3.5x by year-end (3.9x as of June 30) and sub 3.0x by the end of next year. We are reiterating our OUTPERFORM investment rating and price target of $61. Holdings, Inc. operates as a holding company, which produces treated wood products, wood treatment chemicals and carbon compounds. It operates through the following segments: Carbon Materials & Products & Services; and Performance Chemicals. The Carbon Materials & Chemicals segment manufactures carbon pitch naphthalene, phthalic anhydride, creosote and carbon black feedstock.”
According to TipRanks.com, Howe is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -13.1% and a 16.7% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as ASV Holdings Inc, Kadant Inc, and Woodward.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Koppers Holdings Inc with a $50 average price target, which is an 89.0% upside from current levels. In a report issued on October 16, Seaport Global also initiated coverage with a Buy rating on the stock with a $42 price target.
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LKQ Corp (LKQ)
Barrington analyst Gary Prestopino maintained a Buy rating on LKQ Corp today and set a price target of $45. The company’s shares closed yesterday at $26.60, close to its 52-week low of $25.35.
Prestopino wrote:
“We continue to believe that LKQ’s long -term fundamental outlook remains positive driven by market share gains domestically and internationally. Based on headwinds within the industry, we reduced our 2018 and 2019 adjusted EPS estimates to $2.19 and $2.47 from $2.29 and $2.62. We have an OUTPERFORM investment rating and $45 price target on the shares. Company Description LKQ Corp. engages in providing alternative parts to repair and accessorize automobiles and other vehicles. It operates through the following segments: and Specialty. The Wholesale-North America segment includes Service segments. The company was founded by Donald F. and is headquartered in Chicago, IL.”
According to TipRanks.com, Prestopino is a 2-star analyst with an average return of 0.3% and a 34.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, US Auto Parts Network, and Liquidity Services.
Currently, the analyst consensus on LKQ Corp is a Strong Buy with an average price target of $42.
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