Analysts’ Top Consumer Goods Picks: AMRS, ADI


There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Amyris (NASDAQ: AMRS) and Analog Devices (NASDAQ: ADI) with bullish sentiments.

Amyris (NASDAQ: AMRS)

B.Riley FBR analyst Carter Driscoll assigned a Buy rating to Amyris (NASDAQ: AMRS) on May 18 and set a price target of $10. The company’s shares closed on Friday at $5.36.

Driscoll commented:

“Chevron is accelerating productization of renewable base oils. Prior to market open today (May 18), Amyris (AMRS-Buy, $10 PT) announced that its joint venture (JV) company, Novvi LLC, entered into an agreement with oil titan Chevron to jointly develop and bring to market renewable based oil products. Novvi was established in June 2011 as a JV with Cosan U.S. to develop and commercialize base oils made from Biofene for the automotive, commercial and industrial lubricants markets. Chevron invested $1M in Novvi in late 2016 and is now stepping up its investment. We understand that Chevron has witnessed the substantial progress AMRS has made commercializing a number of products over the past couple of years and recognizes the potential for renewable base oils.”

According to TipRanks.com, Driscoll is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -7.2% and a 33.7% success rate. Driscoll covers the Consumer Goods sector, focusing on stocks such as SolarEdge Technologies, Pacific Ethanol, and Enphase Energy.

Currently, the analyst consensus on Amyris is Moderate Buy and the average price target is $12.50, representing a 133.2% upside.

In a report issued on May 15, H.C. Wainwright also maintained a Buy rating on the stock with a $15 price target.

See today’s analyst top recommended stocks >>

Analog Devices (NASDAQ: ADI)

B.Riley FBR analyst Craig Ellis maintained a Buy rating on Analog Devices (NASDAQ: ADI) today and set a price target of $122. The company’s shares closed on Friday at $94.88, close to its 52-week high of $98.38.

Ellis said:

“High quality Analog specialist Analog Devices (ADI) reports F2Q18 Wednesday, 5/30, pre-open with a 10:00 am ET CC. We expect strong operating execution and we believe fundamentals point to Street estimate upside in the quarter and outlook. Notably, following late Feb.’s better-than-expected print and guide, Analog reporting has been led by high quality beats and raises from TXN and MCHP which we believe are good ADI comps. Further, these and broader indications point to healthy Auto and Industrial demand which is 65% of ADI sales, even as other data points suggest relative Comm Infrastructure stability.”

According to TipRanks.com, Ellis is a top 25 analyst with an average return of 37.9% and a 80.3% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Applied Materials, and Brooks Automation.

Analog Devices has an analyst consensus of Strong Buy, with a price target consensus of $107.82.

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