There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Universal Display (NASDAQ:OLED) and Cirrus Logic (NASDAQ:CRUS) with bullish sentiments.
Universal Display (OLED)
In a report released today, Mehdi Hosseini from Susquehanna reiterated a Buy rating on Universal Display, with a price target of $120. The company’s shares opened today at $103.06.
According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 9.3% and a 46.8% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials.
Currently, the analyst consensus on Universal Display is a Strong Buy with an average price target of $138.67, representing a 34.6% upside. In a report issued on October 29, Goldman Sachs also reiterated a Buy rating on the stock with a $155 price target.
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Cirrus Logic (CRUS)
MKM Partners analyst Ruben Roy reiterated a Buy rating on Cirrus Logic today and set a price target of $48. The company’s shares opened today at $41.50.
Roy wrote:
“We reiterate our Buy rating on CRUS shares following another quarter in which CRUS continues to execute on its product roadmap and customer design activity despite continued near-term headwinds to revenue growth. September quarter results came in ahead of management guidance and the December outlook was below consensus as the timing of order shipments remains difficult to predict. While CRUS did not update its expectations for year-over-year fiscal 2019 revenue decline, we continue to believe that a down 10%-15% year is a likely outcome. Management continues to expect a return to growth in fiscal 2020 based on expectations for content growth at existing and new customers. To that end, CRUS expects an additional 10%+ customer in the Q4 time frame.”
According to TipRanks.com, Roy is a 4-star analyst with an average return of 7.5% and a 56.4% success rate. Roy covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Skyworks Solutions, and Cypress Semicon.
The word on The Street in general, suggests a Hold analyst consensus rating for Cirrus Logic with a $47.50 average price target, representing a 14.5% upside. In a report released today, Craig-Hallum also reiterated a Buy rating on the stock with a $47 price target.
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