March 9, 2015 12:17 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 Monday, Bank of America analyst Robert Ohmes downgraded shares of
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.
(NASDAQ: TFM) to Neutral from Buy with a $45 price target due to valuation reasons and uncertainties over the company's prospects.Ohmes noted that the company's 3.0 percent comp gains in the fourth quarter were supported by a 3.7 percent gain in traffic, despite an estimated 300 basis point same-store sale headwind from competitor store openings in its major markets. Ohmes added that uncertainty exists over accelerating same-store sales headwinds from further competitor store openings and potential margin pressures given the company's changing promotional cadence and traffic-driving strategy. In addition, the analyst cited a "secular store growth outlook" and the transition to a new CEO as headwinds that adds to the uncertainty.Bottom line, Ohmes argued shares are "fully valued" given that they are currently trading at a 19-20x P/E versus a 10 percent to 12 percent earnings per show growth outlook.
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