There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Synaptics Inc (NASDAQ: SYNA) and AAR Corp (NYSE: AIR) with bullish sentiments.
Synaptics Inc (NASDAQ: SYNA)
Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Synaptics Inc (NASDAQ: SYNA) yesterday and set a price target of $55. The company’s shares opened today at $42.19.
Rakesh wrote:
“We believe SYNA should be well-positioned into 2H with: 1) TDDI ramps, 2) CoF ramps with 30-50% higher content, 3) iPhone LCD and 4) strong seasonal voice assitant ramps. SYNA should be on the road at conferences this quarter. We would use the pullback as an opportunity.”
According to TipRanks.com, Rakesh is a top 25 analyst with an average return of 29.2% and a 71.2% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Synaptics Inc is Moderate Buy and the average price target is $53.20, representing a 26.1% upside.
In a report issued on May 8, Cowen & Co. also reiterated a Buy rating on the stock with a $60 price target.
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AAR Corp (NYSE: AIR)
In a report released yesterday, Kenneth Herbert from Canaccord Genuity maintained a Buy rating on AAR Corp (NYSE: AIR), with a price target of $48. The company’s shares opened today at $46.37, close to its 52-week high of $47.57.
Herbert wrote:
“We recently visited AAR’s (AIR) heavy maintenance, repair and overhaul (MRO) facility in Oklahoma City. This is AAR’s largest MRO facility in the U.S. contributing approximately 1M MRO man hours of the total company ~6.0M annually (including the recently added Canadian and Rockford facilities). Key customers at this facility include and Mesa. The facility has capacity for 12 aircraft, including 737s, MD-80s and regional jets, and was the company’s first MRO facility. The facility is starting a significant upgrade program to be able to support the 737 MAX as they enter service with Alaska. In addition to the commercial work, the facility does heavy maintenance for Navy C-40 aircraft, also runs the FBO at the airport and provides fuel services for ~80% of the aircraft that use the OKC airport.”
According to TipRanks.com, Herbert is a 5-star analyst with an average return of 12.6% and a 65.2% success rate. Herbert covers the Consumer Goods sector, focusing on stocks such as Transdigm Group Inc, Spirit AeroSystems, and Rockwell Collins.
AAR Corp has an analyst consensus of Strong Buy, with a price target consensus of $49.50.
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