Analysts Are Bullish on Top Materials Picks

By Ryan Adsit

There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on WPX Energy (NYSE: WPX) and Turquoise Hill (NYSE: TRQ) with bullish sentiments.

WPX Energy (NYSE: WPX)

WPX Energy (NYSE: WPX) received a Buy rating from BMO Capital analyst Phillip Jungwirth today. The company’s shares closed last Friday at $12.06, close to its 52-week high of $13.92.

According to TipRanks.com, Jungwirth is a 5-star analyst with an average return of 12.8% and a 72.4% success rate. Jungwirth covers the Basic Materials sector, focusing on stocks such as Whiting Petroleum Corp., Rice Midstream Partners, and Continental Resources.

Currently, the analyst consensus on WPX Energy is Moderate Buy and the average price target is $15.25, representing a 26.5% upside.

In a report issued on November 2, J.P. Morgan also reiterated a Buy rating on the stock.
Turquoise Hill (NYSE: TRQ)

In a report released today, Dalton Baretto from Canaccord Genuity upgraded Turquoise Hill (NYSE: TRQ) to Buy. The company’s shares closed last Friday at $3.37, close to its 52-week high of $3.67.

Turquoise Hill has an analyst consensus of Hold.