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.
- Mizuho analyst Brett Linzey initiated coverage on five electrical equipment companies' stocks.
- The analyst initiated Rockwell Automation Inc (NYSE:ROK) with a Neutral rating and a price target of $345.
- Linzey mentions that Automation demand has been "robust" and new product development and the leveraging of acquisitions are opening new markets, but it is unclear if recent demand is "cyclical or secular."
- He believes growth will need to accelerate above its historical rate for the stock's current valuation to hold.
- The analyst initiated Hubbell Inc (NYSE:HUBB) with a Buy rating and a price target of $240, implying an upside of 14%.
- Linzey states that the utility transmission and distribution market "remains robust" and has been one of the more resilient end-market across industrial technology coverage for a few years.
- The analyst says this is Hubbell's "sweet spot."
- The analyst initiated Vertiv Holdings Co (NYSE:VRT) with a Neutral rating and a price target of $27, implying an upside of 12%.
- Linzey mentions that the "important provider" of power and thermal management equipment and services to data centers is also expanding in the area of edge computing.
- The analyst initiated Eaton Corp PLC (NYSE:ETN) with a Buy rating and a price target of $200, implying an upside of 19%. The analyst also made the shares a top pick.
- Linzey says Eaton is one of the top electrifications plays following a multi-year streamlining of the portfolio.
- He also expects "later cycle growth kickers" in aerospace and vehicle over the next two years as those markets recover.
- The analyst initiated AMETEK Inc (NYSE:AME) with a Buy rating and a price target of $159, implying an upside of 11%.
- Linzey says the company is navigating supply chain and inflationary challenges "exceptionally well," capturing price and maintaining a positive price/cost spread.
- Price Action: ROK shares are trading lower by 0.87% at $345.85, HUBB higher by 0.88% at $210.11, VRT up by 0.54% at $24.15, ETN lower by 0.05% at $168.72, and AME lower by 0.79% at $142.72 on the last check Friday.
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.
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