The BAKKT (BKKT) may move up 170% in just two weeks, but a Wall Street firm said the rally has not removed the reversed stock potential.
The Broker Benchmark raised its target price to the Crypto Infrastructure Company to $ 40 from $ 13, while reciting its purchase in stock. Shares are 2% higher in early trade, around $ 26.
Even after the run-up, the BAKKT traded in just 9.9 times to estimate 2026 income before interest, taxes, losses and amortization (EBITDA), according to benchmark analyst Mark Palmer.
That’s far below peers including Coinbase (24.1x), Robinhood (45.5x) and Circle (49.9x). The benchmark argues that the relative -child discount makes the stock given its growth profile.
The rally, Palmer said, confirms the strategic reset under the CEO Akshay Naida, who took united leadership in August. The firm has chances in three places: crypto infrastructure, stablecoin payment and a newly unveiled Treasury approach.
The company has been sold from its custody division and is in the process of Release of Business loyalty of its legacyBoth of these are expensive and not core. In units lost, the benchmark expects BAKKT to achieve profitability in the first half of 2026.
Investors also noticed the Fintech veteran veteran appointment Mike Alfred on the BAKKT board on September 22. Alfred, who founded the transparency platform of Brightscope’s retirement and blockchain analytics firm digital assets data, brings experience to both financial and digital infrastructure Benchmark said his addition should enhance Bakkt’s decision making while it was scales.
Read more: Bakkt Rated Buy with 44% upside down with Stablecoin Growth Potential: I -Clear the street
