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.
Activision Blizzard, Inc. (NASDAQ: ATVI) shares are already down more than 26.5 percent so far in 2016. With the company set to report on February 11, is the selloff a sign of bad things to come or simply an excellent buying opportunity ahead of earnings? According to Stifel analyst Drew Crum, Activision Blizzard stock is currently a steal.
"The shares have lagged ytd (-21% vs. S&P 500 -8%), we think based on 1) uncertainties around the content strategy for the Destiny franchise in ’16 ; and 2) mid-cycle multiple compression as the industry approaches its 'perceived peak' (though we beg to differ on this point) ~ the former will likely be addressed with earnings, while the latter could linger," Crum explained in a new report.
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Overall, he believes the Buy-rated stock offers a compelling risk/reward at 15x 2016 EPS estimates.
Stifel is calling for the company to announce conservative 2016 EPS guidance of $1.50 and has reduced its own estimate from $1.60 to $1.53. In addition, Stifel expects Actvision Blizzard to reiterate its 30 percent accretion projections associated with its King Digital Entertainment PLC (NYSE: KING) acquisition, which the firm believes will close by the end of February.
Disclosure: the author holds no position in the stocks mentioned.
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.