PI Financial sets their Share Target Price for HIVEHi Guys,
as we approach Q3 earnings, another target is set, this time by PI Financial of Vancouver.
The Globe and Mail reports in its Wednesday, Jan. 31, edition that PI Financial analyst David Kwan believes Hive Blockchain Technologies ($2.60) is set to outperform its peers.
The Globe's David Leeder writes that Mr. Kwan, citing Hive's low-cost operations in "politically stable" jurisdictions and its partnership with cryptocurrency-mining leader Genesis Mining, which he calls a "key competitive advantage," began coverage with a "buy" rating. Mr. Kwan set a share target of $5.25.
Mr. Kwan calls investing in the cryptocurrency and blockchain space a risky proposition given the "exceptional" volatility seen in both cryptocurrency and share prices. Believing "the roller coaster ride is likely to continue," he expects regulatory uncertainty to persist in the near term.
However, Mr. Kwan says Hive stands out in the space noting: "Some of the key attributes of a successful miner are cheap power, a cool climate, and a politically stable jurisdiction.
With operations in Iceland and Sweden and its partnership with Genesis, we believe Hive checks all of these boxes and will be one of the lower cost miners, enabling them to generate stronger margins and cash flow in the good times and better weather the down times."
More mainstream media coverage that helps inform the more conservative retail investor.
With Ether now sitting at about $600 share jump upon release seems to be more in the range of $4.50-$5.50
As someone had posted earlier, tomorrow’s US Crypto Meetings will shine a light on the regulatory path the US is preparing to shape.
We will see what happens.
Later guys.