October 28, 2013 3:31 PM | 1 min read |
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.
In a report published Friday, ISI group analyst Glenn Schorr analyzed
Legg Mason Inc. (NYSE: LM) fiscal 2Q14 earnings. The analyst increased FY15 estimates and Legg's PT. Legg reported 3Q13 EPS of $0.70 versus ISI of $0.53 and consensus of $0.62. The quarter reported +40bps of adjusted margin improvements with a 400 bps positive operating leverage and $90M in stock buybacks. Unfortunately, Legg had a 2.9% organic decay of -$3.7B in long-term outflows and a low quality GAAP EPS of under $0.54. Revenues were up 5% YoY versus peer average of 10%. Schorr commented, "While the active P&L and balance sheet mgmt. is great (imagine if the other asset mgrs. were this active), we continue to be held back by the asset mix and wonder what environment we need to see for Legg to enjoy double digit growth (S&P's up 23% YTD, but fixed income markets are flattish so revenues were only up 5%...)." ISI increased FY15 estimates from $2.80 to $2.88 and raised the PT to $38. Legg Mason closed at $37.91 on 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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