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!
On the other hand, rival Target Corporation (NYSE: TGT) was downgraded from Outperform to Market Perform. The analysts are not confident that the company's recent moves could reignite comps growth. They therefore reduced the price objective from $75 to $68 on the stock.
The brokerage is not worried even if Wal-Mart were to provide a negative surprise during analyst day in October; it has already factored in such a possibility. Cowen thinks that the retailer could achieve stable comps of 1–2 percent, with the possibility of adding more.
As far as Target is concerned, the brokerage believes the company should depend heavily on its promotions to fuel solid results in the second half of the current year and early next year. However, that will not be easy given Wal-Mart's increased price points aggression.
"We're willing to look past EPS dilution as WMT reignites its e-commerce growth [...] Stronger e-commerce growth has been the missing puzzle piece for WMT, but we believe the Jet acquisition is a step in the right direction. We like the strategy to grow its online grocery pickup service," the analysts said.
At time of writing, Wal-Mart was up 1.72 percent at $71.51. Target was down 0.3 percent at $68.79.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!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.