There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Westport Fuel Systems Inc (WPRT) and NeoPhotonics (NPTN) with bullish sentiments.
Westport Fuel Systems Inc (WPRT)
H.C. Wainwright analyst Amit Dayal maintained a Buy rating on Westport Fuel Systems Inc today and set a price target of $6. The company’s shares opened today at $1.69.
Dayal noted:
“We believe that investors seeking growth opportunities within the alternative fuel industry should find WPRT’s market position attractive. Before merging with Fuel Systems, WPRT was already a significant player in the heavy-duty vehicular vertical; the merger further expanded the company’s capabilities into fuel storage and strengthened its reach into light-duty automotive verticals.”
According to TipRanks.com, Dayal is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -12.9% and a 32.9% success rate. Dayal covers the Industrial Goods sector, focusing on stocks such as Ballard Power Systems, Capstone Turbine Corp, and Orion Energy Systems.
Currently, the analyst consensus on Westport Fuel Systems Inc is a Moderate Buy with an average price target of $4.67.
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NeoPhotonics (NPTN)
In a report released yesterday, Jun Zhang from Rosenblatt Securities maintained a Buy rating on NeoPhotonics, with a price target of $13. The company’s shares opened today at $7.15.
Zhang said:
“We expect, with the recent China Telecom (CHA: NR) tender announcement, NeoPho- tonics will guide above normal seasonality for the March quarter. NeoPhotonics’ stock is down today, and we believe this is attributable to the news that China sentenced a Canadian drug dealer to death yesterday. We believe this should be viewed as a separate event from the trade negotiations. We believe it is likely Huawei will send another representative to the US to deal with the lawsuit and the CFO, Meng Wanzhou, will be released.”
According to TipRanks.com, Zhang is a 3-star analyst with an average return of 1.3% and a 55.2% success rate. Zhang covers the Consumer Goods sector, focusing on stocks such as Applied Optoelectronics, Lumentum Holdings, and Apple.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NeoPhotonics with a $10.26 average price target.
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