Latest news with #Citi
Yahoo
an hour ago
- Business
- Yahoo
Peter Schiff Says He 'Gets Bitcoin' But Not USD-Pegged Stablecoins, Floats Gold-Backed Token Plan
Peter Schiff, vocal proponent of gold and a longtime critic of cryptocurrencies and bitcoin BTC, said he intends to launch his own gold-backed token while taking a dig at the value of U.S. dollar-pegged stablecoins. 'I get bitcoin, but not U.S. dollar stablecoins,' Schiff posted Friday on X. 'If you're going to introduce a third-party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold?" In a reply to a user who encouraged him to launch a gold-backed stablecoin, Schiff confirmed: "They already exist. But I do intent [sic] to launch my own." His remarks come as the U.S. Senate passed the so-called GENIUS Act to regulate the rapidly growing stablecoin sector, a type of digital currency with prices anchored to an external asset such as fiat currencies. The stablecoin market mushroomed to over $260 billion, with Citi forecasting that it could become a $3.7 trillion asset class by the end of the decade. These tokens have become a key piece of trading infrastructure and are increasingly popular for cross-border payments and remittances. The market is dominated by U.S. dollar-backed tokens like Tether's USDT and Circle's USDC. Gold-backed tokens, meanwhile, make up a niche but growing segment with a market size of around $2 billion. Contrary to fiat-backed stablecoins, gold tokens are mostly used as a store of value, like their physical version, but on blockchain rails. However, there are ongoing efforts to bring more utility for gold tokens in decentralized finance applications, for example using as collateral for in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Business
- Yahoo
Citi Lowers ConocoPhillips (COP) Price Target, Keeps Buy Rating
ConocoPhillips (NYSE:COP) is one of the 10 Best Oil and Gas Stocks to Buy Now. On June 11, Citi reduced its price target for ConocoPhillips (NYSE:COP) from $140 to $115 while keeping a 'Buy' rating. Despite major acquisitions aimed at transformation, ConocoPhillips (NYSE:COP) has performed poorly since early 2024 and has fallen to four-year lows compared to the US energy index. This underperformance has wiped out the gains the stock made through strategic acquisitions. An underground network of pipelines transporting oil through an expansive terrain. However, Citi analysts believe this presents a 'value opportunity' as ConocoPhillips (NYSE:COP) is positioned to stay resilient even as OPEC's new strategies create challenges for many in the energy sector. Citi still sees significant upside potential for the stock. ConocoPhillips (NYSE:COP) is one of the world's largest independent oil and gas exploration and production companies based on production and proved reserves. While we acknowledge the potential of COP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
6 hours ago
- Business
- Yahoo
Oil headed for third straight week of gains as traders await Trump's decision on Iran
Oil was on track to close out its third week of gains as traders awaited President Trump's decision on whether the US will directly intervene in the Israel-Iran conflict. West Texas Intermediate futures (CL=F) traded just below $75 per barrel, and Brent crude (BZ=F), the international benchmark, hovered near $76. Oil futures were on pace to close up roughly 3% for the week, extending gains sparked by last Friday's outbreak of hostilities between Israel and Iran. Prices dipped slightly during early trading Friday as hopes for a diplomatic resolution grew after Trump indicated he would give diplomacy a chance before deciding on potential US involvement in the conflict. Despite the rally, Wall Street analysts remain cautious. On Friday, Citi said its research team sees a 'lower risk of material energy flow disruptions from the conflict.' 'Disrupting oil supply isn't in the interest of either Iran or the U.S.,' Citi analysts Spiro Dounis and his team wrote. "If Iran's 1.1 million barrels per day of oil exports were prices would only rise to around $75–78 per barrel—offering limited upside from current levels," he added. Goldman Sachs has projected that if the conflict escalates and Iran's oil supply were disrupted, prices could spike as high as $90 per barrel but decline back to the $60s in 2026 as Iran supply recovers. On Wednesday, analysts noted that exports from Iran—and shipments through the Strait of Hormuz, a critical chokepoint for global oil—remain unaffected. Wall Street also sees spare capacity from the Organization of Petroleum Exporting Countries and its allies (OPEC+) as a key buffer against supply shocks. 'While the exact magnitude is uncertain, we believe that above-average global spare capacity (worth around 4–5% of global demand), is the main cushion against Iran-specific disruptions, enabled by deeper-than-expected unwinding of OPEC+ production cuts,' wrote Goldman analyst Daan Struyven and his team. OPEC+ had already ramped up production in the months leading up to the Israel-Iran conflict. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Insider
11 hours ago
- Business
- Business Insider
Straumann Holding AG (STMN) Receives a Sell from Citi
Citi analyst Veronika Dubajova maintained a Sell rating on Straumann Holding AG (STMN – Research Report) today and set a price target of CHF101.00. The company's shares closed yesterday at CHF102.80. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Dubajova is an analyst with an average return of -5.7% and a 42.44% success rate. Dubajova covers the Healthcare sector, focusing on stocks such as Alcon, Elekta AB, and Straumann Holding AG. Straumann Holding AG has an analyst consensus of Moderate Buy, with a price target consensus of CHF126.12. The company has a one-year high of CHF140.60 and a one-year low of CHF83.10. Currently, Straumann Holding AG has an average volume of 416.3K.
Business Insider
11 hours ago
- Business
- Business Insider
Aena SA (0R4Y) Gets a Hold from Citi
In a report released today, Ashish Khetan from Citi reiterated a Hold rating on Aena SA (0R4Y – Research Report), with a price target of €22.00. The company's shares closed yesterday at €22.91. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Khetan is ranked #5923 out of 9595 analysts. Aena SA has an analyst consensus of Hold, with a price target consensus of €223.35. Based on Aena SA's latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of €1.32 billion and a net profit of €301.31 million. In comparison, last year the company earned a revenue of €1.22 billion and had a net profit of €261 million
