There’s a lot to be optimistic about in the Conglomerates sector as 3 analysts just weighed in on Fortune Brands (FBHS), Magna International (MGA) and North American Construction Group (NOA) with bullish sentiments.
Fortune Brands (FBHS)
In a report released today, Ketan Mamtora from BMO Capital maintained a Buy rating on Fortune Brands, with a price target of $115.00. The company’s shares closed last Friday at $106.00, close to its 52-week high of $106.38.
According to TipRanks.com, Mamtora is a 4-star analyst with an average return of 33.1% and a 84.2% success rate. Mamtora covers the Industrial Goods sector, focusing on stocks such as Beacon Roofing Supply, Builders Firstsource, and AZEK Company.
Currently, the analyst consensus on Fortune Brands is a Moderate Buy with an average price target of $105.43, representing a 0.5% upside. In a report released today, Truist Financial also maintained a Buy rating on the stock with a $125.00 price target.
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Magna International (MGA)
In a report released today, Peter Sklar from BMO Capital maintained a Buy rating on Magna International, with a price target of $99.00. The company’s shares closed last Friday at $95.22, close to its 52-week high of $99.72.
According to TipRanks.com, Sklar is a 4-star analyst with an average return of 7.2% and a 52.2% success rate. Sklar covers the Consumer Goods sector, focusing on stocks such as Alimentation Couche Tard, Loblaw Companies, and Canadian Tire.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Magna International with a $105.00 average price target, implying a 10.2% upside from current levels. In a report issued on April 15, Barclays also upgraded the stock to Buy with a $115.00 price target.
North American Construction Group (NOA)
In a report released today, John Gibson from BMO Capital maintained a Buy rating on North American Construction Group, with a price target of $20.00. The company’s shares closed last Friday at $13.30, close to its 52-week high of $13.42.
Gibson has an average return of 14.6% when recommending North American Construction Group.
According to TipRanks.com, Gibson is ranked #555 out of 7490 analysts.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for North American Construction Group with a $14.75 average price target, which is a 9.2% upside from current levels. In a report released yesterday, Raymond James also maintained a Buy rating on the stock with a C$19.00 price target.
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