January 9, 2014 10:14 AM | 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 Thursday, Bank of America Merrill Lynch analyst Kevin McCarthy upgraded
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.
(NYSE: ALB), with a $71.00 price objective.According to the report, following a difficult year in 2013, improved growth prospects in catalysts seen by analysts, where start-up costs should abate as new FCC shipments commence in 2H14. “Fine chemicals should also deliver growth from custom synthesis projects,” the report noted. “Finally, we believe investors are well compensated for risks at 14.6x our 2014 EPS estimate, which represents a 14% discount to our coverage cluster and a 6% discount to the stock's 10-year average multiple. Our DCF-based PO of $71 suggests upside potential of 11%, including a dividend yield of 1.5%.”Some highlights from the report included:-”Catalysts (37% of sales; 45% of segment income) will be key to the relative performance prospects of ALB shares in our view.”-”Additional repurchases could lend support.”-”Risk-reward has tipped favorably in our view.”ALB closed Wednesday at $66.00 with shares trading up at 1.79 percent.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.