Analysts Offer Insights on Consumer Goods Companies: Arista Networks (NYSE: ANET) and Burberry Group (NASDAQ: BURBY)

By Austin Angelo

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Arista Networks (NYSE: ANET) and Burberry Group (NASDAQ: BURBY) with bullish sentiments.

Arista Networks (NYSE: ANET)

In a report released today, Ittai Kidron from Oppenheimer reiterated a Buy rating on Arista Networks (NYSE: ANET). The company’s shares opened today at $155.36, close to its 52-week high of $158.84.

According to TipRanks.com, Kidron is a 4-star analyst with an average return of 2.7% and a 52.5% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Advanced Micro Devices.

Currently, the analyst consensus on Arista Networks is Moderate Buy and the average price target is $150.43, representing a -3.2% downside.

In a report issued on June 12, Needham also maintained a Buy rating on the stock with a $175 price target.
Burberry Group (NASDAQ: BURBY)

Maxim Group analyst Tom Forte reiterated a Buy rating on Burberry Group (NASDAQ: BURBY) today and set a price target of $26. The company’s shares opened today at $22.43, close to its 52-week high of $23.92.

Forte said:

“Today, the company announced multiple changes to its Board of Directors (detailed below). Additionally, we are adjusting our operating projections to reflect the recent changes in FX rates, including a weakening of the British pound, and further refinements to reflect the transition of Beauty to licensed. We reiterate our Buy rating and 12-month target price of $26, which is based on our discounted cash flow analysis that includes our long-term adj. EBITDA margin forecast of 21.5% vs. 22.6% in FY17.”

According to TipRanks.com, Forte is ranked 0 out of 5 stars with an average return of -7.2% and a 35.0% success rate. Forte covers the Services sector, focusing on stocks such as Quotient Technology Inc, Nordstrom Inc, and Overstockcom.

Burberry Group has an analyst consensus of Moderate Buy, with a price target consensus of $26.

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