Analysts are pulling back from the Conglomerates sector as 2 experts expressed today bearish sentiments on Paccar (PCAR) and SunPower (SPWR).
Paccar (PCAR)
In a report released today, Courtney Yakavonis from Morgan Stanley maintained a Sell rating on Paccar, with a price target of $73.00. The company’s shares closed last Wednesday at $84.09.
According to TipRanks.com, Yakavonis is a 1-star analyst with an average return of -4.3% and a 31.0% success rate. Yakavonis covers the Industrial Goods sector, focusing on stocks such as Westinghouse Air Brake Technologies, Timken Company, and Caterpillar.
Paccar has an analyst consensus of Moderate Buy, with a price target consensus of $87.20.
See today’s analyst top recommended stocks >>
SunPower (SPWR)
In a report released today, Moses Sutton from Barclays maintained a Sell rating on SunPower, with a price target of $5.00. The company’s shares closed last Wednesday at $9.84.
According to TipRanks.com, Sutton is ranked #636 out of 6813 analysts.
The word on The Street in general, suggests a Hold analyst consensus rating for SunPower with a $8.44 average price target, a -18.5% downside from current levels. In a report issued on July 17, Morgan Stanley also maintained a Sell rating on the stock with a $5.10 price target.
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