Bank of America (BofA) highlighted ten bullish charts for stocks with digital asset exposure, according to a research note today.
The stocks are Advanced Micro Devices (AMD), American Express (AXP), Bunge (BG), Exelon (EXC), Facebook (FB), JB Hunt (JBHT), JPMorgan (JPM), SVB Financial (SIVB), Tesla (TSLA) and Workday (WDAY).Advanced Micro may have upside to $138 to $150, American Express upside $202 to $208, Exelon upside to $67-$72 and SVB Financial upside to $750 and $800, according to BofA technical research strategist Stephen Suttmeier.Bank of America earlier this week added 23 more stocks to its equities research coverage “that may see market value expansion due to digital asset exposure,” according to a research note dated Oct. 18.The U.S. bank launched its digital asset research team on Oct. 4 with a report listing 20 companies, and said that its “research aims to explore the implications across industries including finance, technology, supply chains, social media and gaming.”Its analysts reiterated in the latest report that with $2.5 trillion in market value and more than 200 million users, the “digital asset universe is too large to ignore.”
Read more: Bank of America Launches Research for ‘Too Large to Ignore’ Digital Assets
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