Wall Street Citi bank (C) has increased its price of price on the bullish (BLSH)The owner of Coindesk, at $ 70, against $ 66 after the results of the second quarter of the Crypto Exchange came slightly before the expectations.
The long -awaited Bitlicense Approval of Bitlicense Nydfs removes the overhang of key regulation, strengthening the confidence of investors before fiscal 2026, said Citi.
But the greatest surprise, according to the bank, was the subscription, the services and other accelerated Bullish (Ss & o) Growth pipeline, an inflection which he partially attributes to the momentum of the company’s recent IPO.
Citi reiterated its purchase rating, quoting “the very attractive operating lever effect of the company.
Meet high expectations
The Canaccord broker said Bulnish had made his debut as a public company, meeting high expectations during his first post-Ifo quarter.
In just one month since its public, the exchange has made significant progress, in particular by securing the coveted Bitlidense of the New York Department of Financial Services (Nydfs)showing solid pricing trends in quarterly in the third quarter and continuing to evolve its activity of subscription services, according to the report.
The broker noted that Bulnish is also on the right track to launch the trading of options in the fourth quarter and has already increased its directives in the second quarter above the estimates of Wall Street.
Despite early dynamics, Canaccord thinks that current term estimates remain conservative. The negotiation volume hypotheses are not yet at the cost of assessment of the accounting market, and the projected contributions from the American company and options deploy caution.
Canaccord reiterated its purchase rating and unchanged objective of $ 68.
The KBW investment bank said that it considered that the Bitlidensensese transmission license and money earns as a positive for “short-term expansion of platforms in the United States with the inclusion of New York State”.
That said, the bruises are still faced with significant challenges in the brand’s recognition on the new markets, where established players have long provided turnkey exchange solutions, KBW said.
The bank has maintained its performance rating on the market on Haussiers equity and the price target of $ 55.
Handy stocks increased by more than 8%, merchant about $ 58.18 at the time of publication.
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