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.
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"Our analysis of capex trends at leading operators in key regions suggest that while demand remains weak, capex declines will start to moderate from 2H16 (except China). As such, we believe the worst is behind us both in terms of revenues and business mix," analyst Achal Sultania wrote in a note.
Further, Sultania expects the recent ramp up in cost cutting efforts should lead to a gradual improvement in EBIT margins for the company over the next 12–18 months.
In addition, the analyst also termed Ericsson's revised opex guidance of SKr53 billion annualized from 2H17 (versus the previous guidance of SKr58.5 billion and 2014 level of SKr63 billion) is a "step in the right direction."
"While we may not see any material EBIT improvement in 2H16, we believe cost cutting and gradual mix improvement should allow for 10 percent EBITA margins in 2017 (vs. 8.4 percent we assume for 2016)," Sultania highlighted.
Shares of Ericsson closed Friday's regular trading session at $6.93. The analyst marginally cut the price target to $6.40 from $6.43.
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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.