There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on McCormick & Company (NYSE:MKC) and Amyris (NASDAQ:AMRS) with bullish sentiments.
McCormick & Company (MKC)
In a report released today, Akshay Jagdale from Jefferies maintained a Buy rating on McCormick & Company, with a price target of $150. The company’s shares opened today at $133.84, close to its 52-week high of $135.72.
Jagdale said:
“MKC’s best-in-class 3Q18 results (organic sales growth +4% & GM expansion +285bps) are especially encouraging given the tough operative environment. Earnings upside was limited by the fact MKC has chosen to reinvest much of the margin upside in further brand building, which bodes well for future growth.”
According to TipRanks.com, Jagdale is a 3-star analyst with an average return of 3.3% and a 50.2% success rate. Jagdale covers the Consumer Goods sector, focusing on stocks such as Lamb Weston Holdings, J & J Snack Foods, and Pilgrim’s Pride.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for McCormick & Company with a $134.20 average price target, a 0.3% upside from current levels. In a report issued on September 28, Credit Suisse also reiterated a Buy rating on the stock with a $137 price target.
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Amyris (AMRS)
H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Amyris today and set a price target of $15. The company’s shares opened today at $7.60.
Dayal said:
“We expect the company’s topline to grow at a five-year CAGR of 30.7% from $185.9M in 2018 to $715.6M in 2023. We expect mid- to long-term gross margins to fluctuate between 60-70%, driven by lumpiness of the high margin revenues from grants and collaboration. We are projecting operating expenses to grow at a five-year CAGR of 7.4% from 2018 to 2023. We expect the company to achieve EBITDA profitability during 2018. Based on these assumptions, we arrive at a valuation of $15.00 per share for AMRS stock.”
According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -4.5% and a 40.1% success rate. Dayal covers the Consumer Goods sector, focusing on stocks such as Superconductor Technologies Inc, Pointer Telocation Ltd, and Pacific Ethanol.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Amyris with a $12.50 average price target.
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