Analysts Offer Insights on Materials Companies: Genesis Energy LP (GEL) and Dycom (DY)


There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Genesis Energy LP (NYSE:GEL) and Dycom (NYSE:DY) with bullish sentiments.

Genesis Energy LP (GEL)

In a report issued on August 8, Darren Horowitz from Raymond James maintained a Buy rating on Genesis Energy LP. The company’s shares opened today at $23.31.

According to TipRanks.com, Horowitz is a 4-star analyst with an average return of 5.8% and a 63.4% success rate. Horowitz covers the Basic Materials sector, focusing on stocks such as Enterprise Products Partners LP, EnLink Midstream Partners, and Spectra Energy Partners.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Genesis Energy LP with a $26 average price target.

See today’s analyst top recommended stocks >>

Dycom (DY)

Canaccord Genuity analyst Robert Burleson maintained a Buy rating on Dycom today and set a price target of $90. The company’s shares opened today at $67.80, close to its 52-week low of $67.75.

Burleson noted:

“We are reducing our estimates following today’s disappointing preliminary result and guide for the second half. Despite the implied continuation of slower than expected project ramps in the second half, we continue to believe DY is poised to capitalize on the long term telecommunications investment cycle and accept an acceleration of growth to come next year. We believe that this is reflected in the continued backlog strength in the quarter and note that customer spending plans remain robust to support new technologies including 5G and FirstNet in what we believe will be a decade-long investment cycle. Despite some frustration, we see no point in downgrading the stock here considering backlog strength (highest in more than two years) and the timing- related numbers cut. We maintain our BUY rating and reduce our price target to $90.”

According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.0% and a 58.9% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.

Currently, the analyst consensus on Dycom is a Moderate Buy with an average price target of $103.

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