UPDATE: Jefferies Lowers Price Target on Altera to $44 - Altair Engineering (NASDAQ:ALTR)

Crypto Whales Are Loading Up — Are You?

New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.

According to Jefferies, Altera (NASDAQ: ALTR) price target is lowered to $44.Jefferies said that Altera lowered its Q4 revenue guidance by 550 bps QoQ at the midpoint, owing to customer order cuts and pushouts, we believe particularly in the communications infrastructure market. “ALTR has traded at NTM P/Es in the range of 11x to 30x over the last three years, and our $44 PT assumes a P/E of 20x applied to our new 2012 EPS estimate of $2.16.”Altera closed yesterday at $35.48.

Crypto Whales Are Loading Up — Are You?

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!