Analysts’ Top Consumer Goods Picks: PLT, CREE

By Austin Angelo

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Plantronics (NYSE: PLT) and Cree (NASDAQ: CREE) with bullish sentiments.

Plantronics (NYSE: PLT)

In a report released yesterday, Dave King from Roth Capital maintained a Buy rating on Plantronics (NYSE: PLT), with a price target of $63. The company’s shares opened today at $53.76.

According to TipRanks.com, King is ranked 0 out of 5 stars with an average return of -11.3% and a 38.4% success rate. King covers the Consumer Goods sector, focusing on stocks such as Differential Brands Group, Acushnet Holdings, and Sequential Brands.

Plantronics has an analyst consensus of Moderate Buy, with a price target consensus of $63.

Cree (NASDAQ: CREE)

Roth Capital analyst Craig Irwin reiterated a Buy rating on Cree (NASDAQ: CREE) today and set a price target of $29. The company’s shares opened today at $24.48.

Irwin noted:

“We are reiterating our Buy rating on Cree and raising our price target to $29 (from $27) on a closer look at Wolfspeed’s potential future value. We see recent challenges at the company including the CEO departure and slower than anticipated improvements in the Lighting Products segment as items that will pass.”

According to TipRanks.com, Irwin is a 3-star analyst with an average return of 1.5% and a 45.9% success rate. Irwin covers the Consumer Goods sector, focusing on stocks such as Renewable Energy Group, Maxwell Technologies, and Darling Ingredients.

Cree has an analyst consensus of Moderate Buy, with a price target consensus of $26.50.

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