There’s a lot to be optimistic about in the Conglomerates sector as 2 analysts just weighed in on Magellan Midstream (MMP – Research Report) and Pentair (PNR – Research Report) with bullish sentiments.
Magellan Midstream (MMP)
In a report released today, Justin Jenkins from Raymond James maintained a Buy rating on Magellan Midstream, with a price target of $45.00. The company’s shares closed last Monday at $36.15.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.0% and a 53.0% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Phillips 66 Partners.
Currently, the analyst consensus on Magellan Midstream is a Strong Buy with an average price target of $49.00.
Oppenheimer analyst Bryan Blair assigned a Buy rating to Pentair today and set a price target of $52.00. The company’s shares closed last Monday at $49.26, close to its 52-week high of $50.58.
According to TipRanks.com, Blair is a 4-star analyst with an average return of 8.2% and a 58.6% success rate. Blair covers the Industrial Goods sector, focusing on stocks such as Lincoln Electric Holdings, Watts Water Technologies, and Altra Industrial Motion.
Pentair has an analyst consensus of Moderate Buy, with a price target consensus of $49.73, a -0.1% downside from current levels. In a report issued on October 12, Citigroup also maintained a Buy rating on the stock with a $59.00 price target.
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