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.
Aruba Networks, Inc.’s (NASDAQ: ARUN) stockis down more than 5.5 percent on Monday, after itwas downgraded by JMP Securities, from Market Outperform to Market Perform.
Other research firms, like JP Morgan and Bank of America are not particularly bullish either. So, let’s take a look at two other communication equipment stocks that could stand as more attractive investment options.
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!
Palo Alto Networks Inc (NYSE: PANW) is one way to go. Most recently –on January 6, Barclays reiterated an Overweight rating, and raised its price target to $140, from $120 less than two months ago.
On late-November, several other Wall Street research firms endorsed the stock. Credit Suisse issued an Outperform rating and a $135 price target, while Stifel Nicolaus, Nomura and Deutsche Bank gave the stock a Buy, accompanied by respective price targets of $120, $130 and $125.
Only Citigroup was more bearish, and issued a Neutral rating and a $112 price target.
The stock traded around $113-$114 at the time of the November ratings, so much of the upside potential was already realized. However, now trading around $127.50, there is still plenty of space to grow until the stock reaches the most recent – Barclays- price target.
Cisco Systems, Inc. (NASDAQ: CSCO) is another (well-known) way to go. Analysts have been particularly bullish over the past month or so. On Monday, Deutsche Bank reiterated its Buy rating, escorted by a $32 price target.
Over December, Bank of America and UBS maintained Buy ratings as well, supplemented by corresponding price targets of $30 and $30.50, while Wedbush initiated coverage with and Outperform and a $31.50 price target.
The stock is up about 1.4 percent on Monday, to $28.19, so upside potential is still plenty.
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.