There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on AO Smith Corp (AOS) and Lockheed Martin Corp (LMT) with bullish sentiments.
AO Smith Corp (AOS)
In a report released today, Ryan Connors from Boenning & Scattergood maintained a Buy rating on AO Smith Corp. The company’s shares closed yesterday at $48.20.
“We maintain our Outperform rating for AOS, which has essentially morphed from a growth stock to a value stock over the last 12 months. Our $54 target (down from $60) reflects a P/E of 19.7 times, a 20% discount to the water infrastructure peer group average of 24.7 times. Also, of note in gauging reward/risk, AOS represents a call option on a potential U.S./China trade deal.”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 5.1% and a 57.1% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.
Currently, the analyst consensus on AO Smith Corp is a Strong Buy with an average price target of $57.
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Lockheed Martin Corp (LMT)
Cowen & Co. analyst Cai Rumohr maintained a Buy rating on Lockheed Martin Corp today and set a price target of $360. The company’s shares closed yesterday at $287.87.
According to TipRanks.com, Rumohr is a 5-star analyst with an average return of 11.9% and a 63.6% success rate. Rumohr covers the Consumer Goods sector, focusing on stocks such as American Outdoor Brands Corp, General Dynamics Corp, and Spirit AeroSystems.
Currently, the analyst consensus on Lockheed Martin Corp is a Moderate Buy with an average price target of $322.50.
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