Analysts’ Top Consumer Goods Picks: Identiv (INVE), Airgain Inc (AIRG)

By Ryan Adsit

There’s a lot to be optimistic about in the Consumer Goods sector as 2 analysts just weighed in on Identiv (INVEResearch Report) and Airgain Inc (AIRGResearch Report) with bullish sentiments.

Identiv (INVE)

In a report released today, Nehal Chokshi from Maxim Group reiterated a Buy rating on Identiv, with a price target of $9. The company’s shares closed yesterday at $5.31.

Chokshi said:

“Software and improving pricing power are driving impressive margin expansion. Raising estimates, but still within unchanged guidance. of $9.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 9.3% and a 56.7% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

Currently, the analyst consensus on Identiv is a Strong Buy with an average price target of $9, which is a 69.5% upside from current levels. In a report issued on April 30, Oppenheimer also initiated coverage with a Buy rating on the stock with a $7 price target.

See today’s analyst top recommended stocks >>

Airgain Inc (AIRG)

B.Riley FBR analyst Craig Ellis maintained a Buy rating on Airgain Inc today and set a price target of $20. The company’s shares closed yesterday at $15.72, close to its 52-week high of $17.25.

Ellis said:

“Airgain (AIRG) reported on a modest revenue and powerful EPS beat, but the outlook was lower due to program push-outs and customer product move out of China. Shares were indicated down 12% AMC. We are naturally disappointed after previewing an in-line outlook, but believe overall takeaways show the turnaround led by CEO Simms and CFO Doradla is on track. Specifically, outside aforementioned program weakness, we believe Enterprise sales tracked as expected. Further, design wins are strong and appear to be accelerating Q/Q. That suggests an organizational rebuild largely completed in 1Q19 is gaining traction, with just strategic marketing left to fill. We believe March’s four new 5G products exemplify product momentum and AIRG’s future direction.”

According to TipRanks.com, Ellis is a 5-star analyst with an average return of 15.8% and a 60.9% success rate. Ellis covers the Consumer Goods sector, focusing on stocks such as Axcelis Technologies, Rudolph Technologies, and Skyworks Solutions.

Currently, the analyst consensus on Airgain Inc is a Moderate Buy with an average price target of $19.50, which is a 24.0% upside from current levels. In a report released today, Northland Securities also maintained a Buy rating on the stock with a $17 price target.

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