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Wall Street Analysts Are Bullish on Top Industrial Goods Picks

There’s a lot to be optimistic about in the Industrial Goods sector as 3 analysts just weighed in on Enbridge (ENBResearch Report), Helmerich & Payne (HPResearch Report) and Magna International (MGAResearch Report) with bullish sentiments.

Enbridge (ENB)

RBC Capital analyst Robert Kwan maintained a Buy rating on Enbridge on July 31 and set a price target of C$65.00. The company’s shares closed last Monday at $44.53.

Kwan has an average return of 14.2% when recommending Enbridge.

According to TipRanks.com, Kwan is ranked #44 out of 7995 analysts.

Currently, the analyst consensus on Enbridge is a Moderate Buy with an average price target of $47.18.

See Insiders’ Hot Stocks on TipRanks >>

Helmerich & Payne (HP)

RBC Capital analyst Keith Mackey maintained a Buy rating on Helmerich & Payne on July 29 and set a price target of $66.00. The company’s shares closed last Monday at $45.27.

According to TipRanks.com, Mackey is a 5-star analyst with an average return of 26.7% and a 70.4% success rate. Mackey covers the Industrial Goods sector, focusing on stocks such as Liberty Oilfield Services, Baker Hughes Company, and Trican Well Service.

Currently, the analyst consensus on Helmerich & Payne is a Moderate Buy with an average price target of $54.67, which is a 21.6% upside from current levels. In a report issued on July 14, Barclays also upgraded the stock to Buy with a $52.00 price target.

Magna International (MGA)

In a report issued on July 29, Joseph Spak from RBC Capital maintained a Buy rating on Magna International, with a price target of $76.00. The company’s shares closed last Monday at $64.23.

According to TipRanks.com, Spak has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -12.1% and a 45.2% success rate. Spak covers the Industrial Goods sector, focusing on stocks such as Tenneco Automotive, American Axle, and Dana Holding.

Currently, the analyst consensus on Magna International is a Strong Buy with an average price target of $71.53, an 11.9% upside from current levels. In a report issued on July 14, Morgan Stanley also maintained a Buy rating on the stock with a $79.00 price target.

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