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.
- Credit Suisse analyst Jamie Cook lowered the price target on REV Group Inc (NASDAQ:REVG) to $10 from $11 while maintaining the Underperform rating on the shares.
- The analyst stated that within the quarter, REVG did not experience supply chain improvement as expected, and in some instances, the situation worsened. REVG now expects supply chain challenges will continue into CY 2023.
- Cook mentions that REVG experienced shortages in key components such as wiring harnesses, radiators, and axles. OEM-provided chassis receipts also declined throughout the quarter.
- Related: Why REV Group Shares Are Sliding Today
- The analyst added that maintaining direct labor staffing levels also contributed to inefficiencies during the quarter. Beginning in Q3, REVG decided to execute furloughs in certain ambulance businesses.
- Cook believes the updated FCF guide provides ample opportunity for additional share repurchases, tuck-in acquisitions, or debt reduction after accounting for potential dividend payouts in the 2H.
- Price Action: REVG shares are trading lower by 5.16% at $10.54 on the last check Friday.
- Photo Via Company
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.
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!