Analysts Offer Insights on Consumer Goods Companies: PepsiCo (NYSE: PEP), Fitbit (NYSE: FIT) and Micron (NASDAQ: MU)

By Carrie Williams

Analysts have been eager to weigh in on the Consumer Goods sector with new ratings on PepsiCo (NYSE: PEP), Fitbit (NYSE: FIT) and Micron (NASDAQ: MU).

PepsiCo (NYSE: PEP)

In a report issued on September 12, Vivien Azer from Cowen & Co. reiterated a Buy rating on PepsiCo (NYSE: PEP), with a price target of $128. The company’s shares closed on Friday at $114.85.

According to TipRanks.com, Azer is a 5-star analyst with an average return of 11.5% and a 75.8% success rate. Azer covers the Consumer Goods sector, focusing on stocks such as British American Tobacco, Constellation Brands Inc, and Craft Brewers Alliance.

PepsiCo has an analyst consensus of Moderate Buy, with a price target consensus of $124.44.

Fitbit (NYSE: FIT)

In a report issued on September 13, John Kernan from Cowen & Co. reiterated a Hold rating on Fitbit (NYSE: FIT), with a price target of $6. The company’s shares closed on Friday at $6.59, close to its 52-week low of $4.90.

According to TipRanks.com, Kernan is a 1-star analyst with an average return of -1.3% and a 48.5% success rate. Kernan covers the Services sector, focusing on stocks such as Lululemon Athletica Inc, Dick’s Sporting Goods, and Abercrombie Fitch.

Currently, the analyst consensus on Fitbit is Moderate Buy and the average price target is $6.50, representing a -1.4% downside.

In a report issued on August 29, Deutsche Bank also reiterated a Hold rating on the stock.
Micron (NASDAQ: MU)

In a report issued on September 12, Karl Ackerman from Cowen & Co. reiterated a Buy rating on Micron (NASDAQ: MU), with a price target of $40. The company’s shares closed on Friday at $34.65, close to its 52-week high of $35.

According to TipRanks.com, Ackerman is a 4-star analyst with an average return of 15.7% and a 73.7% success rate. Ackerman covers the Consumer Goods sector, focusing on stocks such as Ultra Clean Holdings, Skyworks Solutions, and Ichor Holdings Ltd.

Currently, the analyst consensus on Micron is Strong Buy and the average price target is $42.33, representing a 22.2% upside.

In a report issued on September 11, FBN Securities also initiated coverage with a Buy rating on the stock with a $45 price target.

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