Analysts Are Bullish on These Services StocksBy Carrie Williams
There’s a lot to be optimistic about in the Services sector as 2 analysts just weighed in on Nant Health (NASDAQ: NH) and Cedar Fair (NYSE: FUN) with bullish sentiments.
Nant Health (NASDAQ: NH)
FBR Capital analyst Edward White reiterated a Buy rating on Nant Health (NASDAQ: NH) yesterday and set a price target of $18. The company’s shares opened today at $11.05, close to its 52-week low of $9.79.
“We are updating our model with revised revenue and EPS estimates for 3Q16, FY16, and FY17. After speaking with management, we have updated our model to reflect a revised revenue ramping-up cadence. We tempered our revenue growth projection in the back half of this year to account for a slower ramp-up in GPS revenue while practitioners familiarize themselves with the technology, as well as gain access with payors. Moreover, it takes approximately 21 days to get results after the initial order while the doctors would probably wait for the results before initiating a second order. Specifically, we lower our 3Q16 revenue estimate to $27.6M from $32.7M and our FY16 outlook to $120.9M from $160.0M.”
According to TipRanks.com, White is ranked 0 out of 5 stars with an average return of -14.6% and a 17.0% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, RXi Pharmaceuticals Corp, and Synthetic Biologics Inc.
Nant Health has an analyst consensus of Strong Buy.
Cedar Fair (NYSE: FUN)
According to TipRanks.com, Crockett is a 4-star analyst with an average return of 2.2% and a 47.4% success rate. Crockett covers the Services sector, focusing on stocks such as Liberty Media Corporation Series A Liberty SiriusXM Common Stock, Cinemark Holdings Inc, and Regal Entertainment.
Currently, the analyst consensus on Cedar Fair is Strong Buy and the average price target is $66.50, representing a 12.8% upside.
In a report released yesterday, Credit Suisse also reiterated a Buy rating on the stock with a $67 price target.