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.
- CIT Group Inc. (NYSE: CIT) shares have declined 41.11 percent over the past six months, down to its 52-week low on February 2, at $27.70.
- Citi’s Donald Fandetti has downgraded the rating on the company from Buy to Neutral, while lowering the price target to $30.
- Fandetti explained he was moving to the sidelines due to the company’s “weak core business” and energy related risks.
Analyst Donald Fandetti explained that the downgrade was based on expectations that “1) energy will remain a headwind, 2) core business fundamentals are soft and 3) we see risk of further negative earnings revisions.”
Fandetti also mentioned that with the stock having underperformed the BKX, it no longer offered a compelling enough case to justify a Buy rating, especially given the overhang due to CIT Group’s energy exposure.
“CIT’s overall energy risk is modest, but it’s enough to keep pressure on the net finance margin and credit metrics into 2016,” Fandetti said.
Image Credit: Americasroof at English Wikipedia [CC BY-SA 3.0], via Wikimedia Commons
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.
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!