Investing in the Future: 7 Blockchain Stocks to Watch

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By: Aquib Nawab

Finance

PayPal, specializing in digital payments, is integrating crypto into its services, allowing customers to manage cryptocurrencies. BoA's Jason Kupferberg highlights its strong franchise and cash flow, noting its appealing valuation at 15x forward earnings. Bank of America rates PYPL as a "buy" with a $112 price target.

1 - PayPal Holdings Inc. (PYPL)

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Nvidia, known for high-end graphics and processors, is expanding in AI, cloud computing, and autonomous tech. CFRA Research analyst Angelo Zino forecasts 11% revenue growth in 2024, recommending a "buy" rating for NVDA stock with a $300 price target.

2 - Nvidia Corp. (NVDA)

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3 - Block Inc. (SQ)

Block, owner of Square payments platform and Cash App, enables Bitcoin trading and holds Bitcoin. It's involved in Bitcoin tech via Spiral. Morningstar's Brett Horn sees 15% annual Bitcoin revenue growth over 5 years for Block, rating SQ a "buy" with a $98 fair value estimate.

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CME, the largest futures exchange, offers crypto futures like Bitcoin and Ethereum. Analyst Michael Miller sees benefits from higher interest rates and retail investor interest in stocks, citing CME's market dominance and new futures. Morningstar assigns a "buy" rating with a $215 fair value estimate for CME stock.

4 - CME Group Inc. (CME)

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Mastercard, a digital payment leader, now offers crypto consulting and embraces blockchain for better payments. CFRA analyst David Holt cites its diverse model as a strength, with a "buy" rating and $415 price target for MA stock reflecting its potential, as per CFRA.

5 - Mastercard Inc. (MA)

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6 - International Business Machines Corp. (IBM)

IBM, a leader in enterprise technology, focuses on blockchain for security and transparency across sectors. Analyst Wamsi Mohan notes IBM's turnaround progress, with better revenue, free cash flow, and a solid product portfolio. Bank of America has a "buy" rating and a $152 price target for IBM stock.

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Accenture, offering consulting, technology services and blockchain integration, is seen as a strong defensive investment by David Holt, despite challenges like foreign exchange headwinds and loss of the Russia business. CFRA rates ACN stock as a "strong buy" with a $333 price target.

7 - Accenture PLC (ACN)

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