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.
Navient Corp (NASDAQ: NAVI) shares have gained 26 percent year-to-date. Goldman Sachs’ Eric Beardsley downgraded the rating on the company from Buy to Neutral, while maintaining the price target at $15. The analyst commented that the stock’s risk-reward currently appears more balanced.
Since adding Navient to the Americas Buy List on October 7, 2015, the stock had risen 25 percent, versus a 9 percent gain for the S&P 500 and 4 percent for the XLF. Analyst Eric Beardsley mentioned that the positive catalysts seemed to be limited, given:
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- Recent securitizations had eased funding concerns
- Buybacks had been strong, at 18 percent of market cap in 2016
- Credit costs had been better than expected
Catalysts Could Recede
Navient was on track to repurchasing another 9 percent of its market cap through yearend. While stating that Navient was “an attractive value stock with self-help as a catalyst,” Beardsley pointed out that a large part of its revenues were backed by tailwinds from declining credit costs and low interest rates.
These positives were likely to slow in the coming years, exerting pressure on the company’s earnings, while buybacks would likely also moderate, the analyst noted.
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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.