Analysts' Opinions Are Mixed on These Materials Stocks: Cameco (CCJ) and MAG Silver (MAG)

Analysts have been eager to weigh in on the Materials sector with new ratings on Cameco (CCJ – Research Report) and MAG Silver (MAG – Research Report). Cameco (CCJ) In a report released today, Andrew Wong from RBC Capital maintained a Sell rating on Cameco, with a price target of C$17.00. The company's shares closed last Wednesday at $19.71. According to TipRanks.com, Wong is a 4-star analyst with an average return of 18.9% and a 58.8% success rate. Wong covers the Basic Materials sector, focusing on stocks such as Largo Resources, NexGen Energy, and CF Holdings. Currently, the analyst consensus on Cameco is a Moderate Buy with an average price target of $19.36. See today’s analyst top recommended stocks >> MAG Silver (MAG) In a report released today, Cosmos Chiu from CIBC maintained a Hold rating on MAG Silver, with a price target of C$33.00. The company's shares closed last Wednesday at $21.92. According to TipRanks.com, Chiu is a 4-star analyst with an average return of 12.5% and a 51.4% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Fortuna Silver Mines, and Hecla Mining Company. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MAG Silver with a $23.68 average price target. TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities. The post Analysts' Opinions Are Mixed on These Materials Stocks: Cameco (CCJ) and MAG Silver (MAG) appeared first on TipRanks Financial Blog.

Analysts have been eager to weigh in on the Materials sector with new ratings on Cameco (CCJ – Research Report) and MAG Silver (MAG – Research Report).

Cameco (CCJ)

In a report released today, Andrew Wong from RBC Capital maintained a Sell rating on Cameco, with a price target of C$17.00. The company's shares closed last Wednesday at $19.71.

According to TipRanks.com, Wong is a 4-star analyst with an average return of 18.9% and a 58.8% success rate. Wong covers the Basic Materials sector, focusing on stocks such as Largo Resources, NexGen Energy, and CF Holdings.

Currently, the analyst consensus on Cameco is a Moderate Buy with an average price target of $19.36.

MAG Silver (MAG)

In a report released today, Cosmos Chiu from CIBC maintained a Hold rating on MAG Silver, with a price target of C$33.00. The company's shares closed last Wednesday at $21.92.

According to TipRanks.com, Chiu is a 4-star analyst with an average return of 12.5% and a 51.4% success rate. Chiu covers the Basic Materials sector, focusing on stocks such as Osisko Gold Royalties, Fortuna Silver Mines, and Hecla Mining Company.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MAG Silver with a $23.68 average price target.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

The post Analysts' Opinions Are Mixed on These Materials Stocks: Cameco (CCJ) and MAG Silver (MAG) appeared first on TipRanks Financial Blog.

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Apple: Street Underestimating the Demand for New iPhones

Apple (AAPL) shares have failed to get going in 2021, with a flat year-to-date showing and underperforming the Nasdaq's 11% gains. Wedbush’s Daniel Ives put the lackluster display down to Read More... The post Apple: Street Underestimating the Demand for New iPhones appeared first on TipRanks Financial Blog.

Apple: Street Underestimating the Demand for New iPhones

Apple () shares have failed to get going in 2021, with a flat year-to-date showing and underperforming the Nasdaq's 11% gains.

Wedbush’s Daniel Ives put the lackluster display down to several reasons. With Big Tech under the lawmakers’ microscope, the analyst thinks the Street is beset by antitrust and regulatory concerns. There’s also the Epic Games lawsuit verdict, “likely over the next month,” which has added to the uncertainty as the Fortnite video game developer has challenged Apple’s alleged monopolistic in-app purchase system.

Ives also thinks the Street remains “unconvinced that the pace of this iPhone supercycle growth story can continue into FY22.”

Apple’s flagship product is due another launch in the fall, with current build rates suggesting to Ives the iPhone 13 will launch in the third week of September, a “normal” launch date compared to last year’s Covid-related delays. Sentiment might be low, but according to Ives’ readout of the situation, the Street is underestimating the potential that lies ahead.

“Asia supply chain builds for iPhone 13 are currently in the ~90 million/100 million unit range compared to our initial iPhone 12 reads at 80 million units (pre-COVID) and represents a ~20% increase YoY out of the gates,” the 5-star analyst said. “While this number will clearly move around over the coming months (chip shortage volatility adds to it), we believe this speaks to an increased confidence with Cook & Co. that this 5G driven product cycle will extend well into 2022 and should also benefit from a post vaccine consumer ‘reopening environment.’"

Spec wise, Ives is confident the new iPhone’s storage abilities will double from the currently highest Pro storage capacity of 512GB, to include a 1 terabyte storage option. The iPhone 13 should also boast several enhancements with Lidar “across all models.”

Based on Ives’ analysis, in the last 3.5 years, of the current 975 million iPhones holders, approximately 250 million have yet to upgrade their handsets, which implies “massive pent up demand within Apple's installed base.”

To this end, Ives rates AAPL shares an Outperform (i.e. Buy) along with a $185 price target. What does this mean for investors? Upside of ~38%. (To watch Ives' track record, )

Overall, of the current 27 Apple reviews from Wall Street’s analyst corps, 20 suggest to Buy, 5 say Hold and 2 recommend to Sell, all coalescing to a Moderate Buy consensus rating. The average price target stands at $157.88, indicating 12-month gains of 19%. (See Apple stock analysis on TipRanks)

To find good ideas for tech stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

The post Apple: Street Underestimating the Demand for New iPhones appeared first on TipRanks Financial Blog.

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