October 29, 2014 2:39 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.
Mark May of Citigroup resumed coverage of
Yahoo! (NASDAQ: YAHOO) on Wednesday with a Buy rating and $63 price target due to fundamental and event driven reasons.From the fundamental point of view, the analyst notes that shares at $45 reflect the following:1.
Alibaba's (NYSE: BABA) current equity value and a high likelihood of a fully-taxed sale of its 15 percent stake is valued at $24 per share.2. A zero percent compounded annual growth rate and a five times EBITDA multiple for Yahoo!'s core offering is valued at $14 per share.3. Yahoo! Japan's current equity value and a fully-taxed sale of the company's 35 percent stake is valued at $4 per share.4. Accretion from $3 billion in share repurchases translates to an additional valuation of $3 per share.A price target of $63 assumes a $118 price target for Alibaba shares and a tax-efficient sale of Yahoo!'s stake and a two percent revenue compounded annual growth rate and six times EBITDA multiple for Yahoo!'s core brand.May notes upcoming catalysts that support a higher valuation on shares include a greater than 50 percent likelihood the company will announce it plans to liquidate its Alibaba stake in a tax-efficient manner in 2015. The analyst expects a “significant” share buyback activity in 2015. Finally, the analyst expects Yahoo! restructuring its search agreement with
Microsoft (NASDAQ: MSFT) in 2015.
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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