Analysts Offer Insights on Consumer Goods Companies: Westlake Chemical Corp (WLK) and Conagra Brands Inc (CAG)


There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Westlake Chemical Corp (WLK) and Conagra Brands Inc (CAG) with bullish sentiments.

Westlake Chemical Corp (WLK)

In a report issued on February 19, Duffy Fischer from Barclays maintained a Buy rating on Westlake Chemical Corp, with a price target of $90. The company’s shares closed yesterday at $79.89.

Fischer commented:

“We think WLK did a decent job on the call explaining the largest moving pieces/discrepancies (i.e., cost inflation vs. FIFO/LIFO vs. price declines), although investors tend to still have difficulty modeling Vinyls results. 1H’19 numbers are likely to remain pressured, given the start-up of new ethylene /PE capacity + recent declines in caustic soda prices, however we continue to think the fundamental outlook (particularly for the Chlor-Alkali product chain) remains quite strong. Our biggest concern short term remains the potential liquidity cliff created by the Dow spin on April 1 (see Duffy Fischer’s note, A Cut, A Cliff, and A January 15, 2019).We are hosting ~100 other Cloud…,’ industrial + material companies at our annual Industrials Select Conference this week in Miami. We hope to see most of you there.”

According to TipRanks.com, Fischer is a 4-star analyst with an average return of 13.5% and a 60.9% success rate. Fischer covers the Consumer Goods sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Venator Materials Plc.

The word on The Street in general, suggests a Hold analyst consensus rating for Westlake Chemical Corp with a $81 average price target, implying a 1.4% upside from current levels. In a report issued on February 19, Alembic Global also maintained a Buy rating on the stock with a $100 price target.

See today’s analyst top recommended stocks >>

Conagra Brands Inc (CAG)

Barclays analyst Andrew Lazar maintained a Buy rating on Conagra Brands Inc on February 19 and set a price target of $30. The company’s shares closed yesterday at $24.03.

According to TipRanks.com, Lazar is a 4-star analyst with an average return of 8.3% and a 66.7% success rate. Lazar covers the Consumer Goods sector, focusing on stocks such as Mondelez International, Lamb Weston Holdings, and McCormick & Company.

Currently, the analyst consensus on Conagra Brands Inc is a Strong Buy with an average price target of $33.50.

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