There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Itron (NASDAQ:ITRI) and Scientific Games (NASDAQ:SGMS) with bullish sentiments.
Itron (ITRI)
In a report released today, Noah Kaye from Oppenheimer maintained a Buy rating on Itron, with a price target of $72. The company’s shares closed yesterday at $60.60.
Kaye said:
“ITRI beat 2Q18 adj. EBITDA, margin and EPS consensus estimates and lifted FY18 revenue outlook while lowering FY EPS guidance. Bookings were solid and the higher revenue outlook reflects management’s view to broad-based growth across segments, including Networks. While the guidance cut was larger than the Street had anticipated, operational improvements partly offset incrementally higher commodity/ components costs, and more clarity into magnitude of cost drivers should level-set investor expectations for underlying margin improvement. We are raising our revenue growth forecast for FY18-20 while lowering our FY19 adj. EBITDA margin estimate by 70bps as we assume no improvement in external commodity/components costs. Our price target goes to $72 (from $76) on our revised FY19 EPS estimate.”
According to TipRanks.com, Kaye is a 4-star analyst with an average return of 6.2% and a 56.2% success rate. Kaye covers the Industrial Goods sector, focusing on stocks such as Rockwell Automation Inc, BorgWarner, and Cummins.
Itron has an analyst consensus of Strong Buy, with a price target consensus of $78.40.
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Scientific Games (SGMS)
Jefferies analyst David Katz reiterated a Buy rating on Scientific Games today and set a price target of $46. The company’s shares closed yesterday at $34.80, close to its 52-week low of $33.70.
According to TipRanks.com, Katz is a 2-star analyst with an average return of 2.2% and a 47.1% success rate. Katz covers the Services sector, focusing on stocks such as International Game Technology, Monarch Casino & Resort Inc, and Wyndham Destinations Inc.
Scientific Games has an analyst consensus of Moderate Buy, with a price target consensus of $45.67.
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