Analysts Offer Insights on Consumer Goods Companies: Ferroglobe PLC (NASDAQ: GSM) and Ciena Corp (NYSE: CIEN)

By Austin Angelo

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Ferroglobe PLC (NASDAQ: GSM) and Ciena Corp (NYSE: CIEN) with bullish sentiments.

Ferroglobe PLC (NASDAQ: GSM)

In a report released today, Sarkis Sherbetchyan from B. Riley reiterated a Buy rating on Ferroglobe PLC (NASDAQ: GSM), with a price target of $16. The company’s shares closed yesterday at $13.70, close to its 52-week high of $13.95.

According to TipRanks.com, Sherbetchyan is ranked #1553 out of 4619 analysts.

Ferroglobe PLC has an analyst consensus of Strong Buy, with a price target consensus of $15.33.

Ciena Corp (NYSE: CIEN)

B. Riley analyst Dave Kang reiterated a Buy rating on Ciena Corp (NYSE: CIEN) today and set a price target of $34.25. The company’s shares closed yesterday at $23.74.

Kang observed:

“We expect F3Q results to be in line, but believe F4Q outlook could be slightly below consensus as the latest industry data suggests a mixed demand environment. Although the company is not exposed to the ongoing Chinese slowdown, a number of comm equipment companies such as Infinera (INFN) and Viavi (VIAV) have recently reported that the overall telecom spending environment remains choppy. This demand dynamic is due to several factors, particularly M&A activity, which could slow the ongoing US metro upgrade cycle. While India and the DCI (Datacenter Interconnect) segment continue to be robust growth drivers, we are uncertain if they will be strong enough to meet the Street’s Q/Q revenue growth expectation of +5.9%.”

According to TipRanks.com, Kang is a 4-star analyst with an average return of 14.0% and a 51.4% success rate. Kang covers the Consumer Goods sector, focusing on stocks such as Acacia Communications, Lumentum Holdings, and Viavi Solutions.

Currently, the analyst consensus on Ciena Corp is Strong Buy and the average price target is $32.58, representing a 37.2% upside.

In a report issued on August 17, Cowen & Co. also reiterated a Buy rating on the stock with a $36 price target.

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