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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.
- Bernstein updated ratings for three Machinery stocks, believing that the concerns about the end of the machinery cycle in 2022 are "overdone" and sees an uneven sector setup into 2022.
- Bernstein analyst Chad Dillard upgraded Caterpillar Inc. (NYSE:CAT) to Outperform from Market Perform with a $240 price target, implying an upside of 19%.
- He thinks Caterpillar should be the biggest beneficiary of the looser monetary policy in China, with the Street also not baking in steel tailwind, which could be $0.85 EPS accretive in 2022.
- The analyst believes expectations for Caterpillar are "low" and that it is an earlier cycle stock in a mid-cycle sector.
- The analyst downgraded AGCO Corp (NYSE:AGCO) to Market Perform from Outperform and lowered the price to $127 (an upside of 13%), from $177.
- The analyst argued that 90% of AGCO's end markets are at their peak, with North America small and large ag and Europe exiting 2022 above historical peaks. Also, farm economics are weakening, and restocking will only be a modest tailwind for AGCO.
- Dillard thinks EPS beats will not get rewarded since AGCO is over-earning and believes incremental margin recovery may be more subdued than peers.
- Additionally, the analyst upgraded PACCAR Inc (NASDAQ:PCAR) to Outperform from Market Perform with a $98 price target.
- Price Action: CAT shares are trading higher by 1.57% at $201.43, PCAR higher by 0.88% at $84.11, and AGCO lower by 1.62% at $112.29 on the last check Wednesday.
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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