There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Summit Materials (SUM – Research Report) and Corteva (CTVA – Research Report) with bullish sentiments.
Summit Materials (SUM)
In a report released today, Philip Ng from Jefferies maintained a Buy rating on Summit Materials, with a price target of $36.00. The company’s shares closed last Friday at $30.55.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 10.9% and a 61.8% success rate. Ng covers the Basic Materials sector, focusing on stocks such as Martin Marietta Materials, International Paper Co, and Crown Holdings.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Summit Materials with a $34.90 average price target, which is a 12.2% upside from current levels. In a report issued on February 16, Stephens also reiterated a Buy rating on the stock with a $36.00 price target.
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Jefferies analyst Laurence Alexander maintained a Buy rating on Corteva today and set a price target of $87.00. The company’s shares closed last Friday at $61.81.
According to TipRanks.com, Alexander is a 5-star analyst with an average return of 5.7% and a 58.3% success rate. Alexander covers the Basic Materials sector, focusing on stocks such as Sociedad Quimica Y Minera SA, Lsb Industries, and Albemarle.
Corteva has an analyst consensus of Strong Buy, with a price target consensus of $74.46.
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