There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Mellanox (NASDAQ:MLNX) and Identiv (NASDAQ:INVE) with bullish sentiments.
Mellanox (MLNX)
Susquehanna analyst Christopher Rolland assigned a Buy rating to Mellanox today and set a price target of $105. The company’s shares closed yesterday at $84.70, close to its 52-week high of $90.45.
According to TipRanks.com, Rolland is a 5-star analyst with an average return of 9.9% and a 66.4% success rate. Rolland covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Power Integrations, and Maxim Integrated.
Currently, the analyst consensus on Mellanox is a Strong Buy with an average price target of $106.29, which is a 25.5% upside from current levels. In a report released today, Piper Jaffray also reiterated a Buy rating on the stock with a $110 price target.
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Identiv (INVE)
In a report released today, Nehal Chokshi from Maxim Group maintained a Buy rating on Identiv, with a price target of $7. The company’s shares closed yesterday at $4.41.
Chokshi said:
“INVE has a competitive advantage within federal government agencies, from both a cost and performance perspective, given its uniquely designed FICAM architecture and 13.02 Topology. INVE is gaining share as the incumbent provider within government customers with incremental wins. We have increased confidence that INVE will indeed see sustained profitable growth via FICAM refresh cycle of existing government customer base. 12-month price target of $7.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 18.8% and a 68.5% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Identiv with a $7 average price target.
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