Analysts Offer Insights on Consumer Goods Companies: Marvell (MRVL) and Verso Corp (VRS)


There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Marvell (NASDAQ:MRVL) and Verso Corp (NYSE:VRS) with bullish sentiments.

Marvell (MRVL)

B.Riley FBR analyst Craig Ellis reiterated a Buy rating on Marvell yesterday and set a price target of $30. The company’s shares opened today at $22.21.

Ellis observed:

“We continue to believe that the deal’s transformational potential, which diversifies end-market exposure deeper into data center networking as well as compute processing and can accelerate growth and boost gross margins, will benefit the two primary historic drivers of sector valuation multiples—growth rate and GM percentage. Regarding underappreciated items in the day’s news, we first note that while some may want a more immediate financial update, a seven-to-nine week incubation period should yield significantly deeper insights into Cavium’s operations, financials, and order patterns, as well as equally valuable new and joint customer engagement insights. This should increase prospects that the financial execution to guidance and targets can remain on a robust track as seen for the past two years under CEO Murphy and CFO Hu.”

According to TipRanks.com, Ellis is a top 25 analyst with an average return of 38.5% and a 81.1% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Rudolph Technologies, and Applied Materials.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Marvell with a $28.17 average price target, representing a 26.8% upside. In a report issued on June 26, Evercore ISI also initiated coverage with a Buy rating on the stock with a $27 price target.

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Verso Corp (VRS)

B.Riley FBR analyst Jeff Van Sinderen reiterated a Buy rating on Verso Corp yesterday and set a price target of $26. The company’s shares opened today at $22.44, close to its 52-week high of $22.69.

Van Sinderen observed:

“We now expect that a similar 8-K filing from VRS will be forthcoming, possibly including further detail on anticipated cash payments the company is due to receive as part of the previously announced settlement with Canadian SC producers Hawkesbury and Irving.”

According to TipRanks.com, Sinderen is a 2-star analyst with an average return of 0.2% and a 48.7% success rate. Sinderen covers the Services sector, focusing on stocks such as Tuesday Morning, Tilly’s Inc, and Kirkland’s.

Verso Corp has an analyst consensus of Moderate Buy, with a price target consensus of $26.

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