There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Overstockcom (NASDAQ:OSTK) and Sino-Global Shipping America (NASDAQ:SINO) with bullish sentiments.
Overstockcom (OSTK)
Maxim Group analyst Allen Klee initiated coverage with a Buy rating on Overstockcom today and set a price target of $75. The company’s shares closed on Friday at $27.43, close to its 52-week low of $23.10.
Klee wrote:
“In our view, there is a disconnect between OSTK’s stock price and the large opportunities in its blockchain investments, particularly tZERO.”
According to TipRanks.com, Klee is a 2-star analyst with an average return of 2.6% and a 42.9% success rate. Klee covers the Technology sector, focusing on stocks such as Helios & Matheson North America Inc, Net 1 Ueps, and Stampscom.
Overstockcom has an analyst consensus of Moderate Buy, with a price target consensus of $93.50.
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Sino-Global Shipping America (SINO)
Maxim Group analyst James Jang initiated coverage with a Buy rating on Sino-Global Shipping America today and set a price target of $1.75. The company’s shares closed on Friday at $1.07, close to its 52-week low of $1.04.
Jang said:
“After undergoing a business transformation to an asset-light model in 2017, Sino-Global (SINO) is well-positioned to capitalize on the growing transpacific containerized trade through its partnerships with Chinese state-owned firms, COSCO and Sichuan Changjiang Group. Expansion of its rapidly growing freight logistics services business should enable the company to cross-sell a variety of additional services for companies seeking logistics solutions. We initiate coverage of SINO with a $1.75 price target, which is based on our 10-year DCF and supported by our comparable company analysis.”
According to TipRanks.com, Jang is a 4-star analyst with an average return of 14.9% and a 42.7% success rate. Jang covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP, Nordic American Tanker, and Eagle Bulk Shipping.
Currently, the analyst consensus on Sino-Global Shipping America is a Moderate Buy with an average price target of $1.75.
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