May 8, 2014 8:16 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, Wunderlich Securities analyst Abhishek Sinha downgraded the rating on
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: QRE) from Buy to Hold, and lowered the price target from $20.00 to $18.00.In the report, Wunderlich Securities noted, “QR Energy, LP (QRE) announced today its plans to pursue organic growth and raised its 2014 capex budget by 80% from $101mm to $182mm. The efforts would most likely pay off as QRE would be developing proven reserves; however, the production impact would be visible only next year. The tight balance sheet and a modest coverage ratio in the interim would keep the stock range-bound, in our view. Because of its high cost of capital, executing a material accretive transaction would also be an uphill task. Looking at the relative valuation, high leverage, and lack of near-term catalysts, we think at this time other stocks in our coverage universe offer better risk-reward propositions. Accordingly, we are downgrading the stock to Hold with a target of $18.”QR Energy LP closed on Wednesday at $17.63.
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