Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on DSP Group (NASDAQ:DSPG) and Domtar Corp (NYSE:UFS).
DSP Group (DSPG)
Needham analyst Rajvindra Gill maintained a Buy rating on DSP Group today and set a price target of $15. The company’s shares opened today at $12.
Gill said:
“Overall DSPG had a good quarter, showing its ability to grow Office/VoIP , SmartHome, and SmartVoice and shifting further away from its cordless business. The majority of DSPG’s revenues are now coming from these growing business segments. With a robust pipeline of design wins already in place and ready to go, mgmt. expects these other businesses to account for 2/3 of total sales for CY19. The continued focus on shifting away from the cordless business should help in driving further revenue growth and gross margin expansion for 2019.”
According to TipRanks.com, Gill is a 5-star analyst with an average return of 13.4% and a 53.8% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.
DSP Group has an analyst consensus of Hold.
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Domtar Corp (UFS)
KeyBanc analyst Adam Josephson maintained a Hold rating on Domtar Corp today. The company’s shares opened today at $46.97.
Josephson wrote:
“We are substantially raising our 2018 and 2019 estimates as a result. We think the stock could have near-term momentum as uncoated freesheet conditions remain strong and as estimates are revised higher, though we continue to believe that the uncoated freesheet and pulp markets are at a cyclical peak. Regarding potential mill conversions to containerboard and/or fluff pulp, our read of the Company’s comments is that its long-term plan to convert some of its mills to containerboard and/or pulp hasn’t changed, but that the timing has thanks to what it called an “inflection point” in the N.A. uncoated freesheet market. Domtar is experiencing “a lot of price momentum” and “reasonable growth” in that market, so its urgency to convert machines to other paper grades has lessened as a result.”
According to TipRanks.com, Josephson is a 4-star analyst with an average return of 7.7% and a 66.2% success rate. Josephson covers the Consumer Goods sector, focusing on stocks such as International Paper Co, Avery Dennison Corp, and Graphic Packaging.
The word on The Street in general, suggests a Hold analyst consensus rating for Domtar Corp with a $51.60 average price target.
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