Bullish gets a new target price of $ 55 from KBW with the US entry seen as key catalyst
Investment Bank KBW started the bullish scope (Blsh).
The bank sees the near term expansion of the US as a catalyst for growth, with a diversity of bullish tech stacks, competitive fees and deep liquidity positioning to gain market sharing.
The trace of bullish regulation, with Germany licenses (Following Micar)Hong Kong and Gibraltar, have drawn institutional entrepreneurs and enabled a global order that relates to Asian and European markets, analyst Bill Papanastasiou wrote.
The KBW also featured Bullish’s work with Gibraltar regulators in a full -time clearinghouse enabled by crypto as a sign of its credibility as an infrastructure provider in the market.
Beyond trading, Bullish varies its profits by taking CoinDesk and CcdataDeveloping repeated streams from the data, indices and service of liquidity, which KBW expects it to produce more than 40% of FY27 income. The CoinDesk platform also offers optionality to reach retail users, carrying higher margins.
The bank sees increased parts of the US market ahead thanks to Bullish’s lower acquisition rate (1.6bps compared to ~ 3bps for Coinbase) and strong liquidity.
A New York Bitlicense approved remains a major milestone, but KBW expects a national controlling whatever.
While appreciation maintains the neutral rating for now, the analyst noted the reversal potential if bullish is conducting its expansion plans and renovation of retailer.
Shares are trading flat around $ 51.81 at the time of publishing.
Read more: Wall Street sees us as Catalyst for Bullish’s next foot
