Crypto platform bullish (Blsh)CoinDesk’s parent company, received a number of stock ratings from Wall Street analysts on Monday, as broker companies started the stock scope after that Recent Ipo.
Rosenblatt Securities started the range with a purchase rating and a $ 60 price target, citing the transfer of political winds and increasing institutional adoption as major catalysts for growth, the broker said in a research report Monday.
The firm argues that Bullish, one of the largest regulated institutional exchanges, is well positioned to demonstrate the so -called “dramatic improvement” in the US political environment for digital possessions.
Despite not serving clients with us, bullish has held more than $ 500 billion in the annual trading volume, a scale viewed by Rosenblatt as evidence of demand.
The upcoming US launch is expected to be a major catalyst, mentioned by the broker, while the passage of Genius Act opened a new opportunity with Stablecoins. Rosenblatt believes that stablecoin-related income can provide repeated income that is less exposed to trade volatility.
Stablecoin values are tied to assets such as the US dollar or gold. They play a major role in cryptocurrency markets that provide, among other things, a payment infrastructure, and are also used to transfer money around the world. The sector has a market cap of nearly $ 280 billion, coingecko data show, and USDT and Circle Internet are led by USDT.
Bullish ownership of media properties and potential expansion of the trade retail increases further upside down, according to the note. On that basis, Rosenblatt appreciates the stock at 31x expected 2027 -adjusted EBITDA, supporting its $ 60 target.
The ‘bitlicense’ catalyst
Rivals Broker Canaccord Genuity also began a bullish range with a purchase rating and a target price of $ 68, featuring the growing institutional traction of exchange and potential strengthening from a pending New York Bitlicense.
Established in 2020, Bullish quickly became a major Crypto trading player, recently leading the global regulated exchange in area trading volumes for Bitcoin Ether (Et)and Stablecoins, the report said.
The company expanded beyond trading with CoinDesk acquisitions in 2023 and CCData in 2024, increasing media, data, and information services on business lines.
Canaccord analysts also note Bullish’s role in the emerging “Stablecoin Wars,” which supports those who gives such as PayPal (PYPL) and société générale (Gle) with lists, liquidity, and promotion.
In Europe and Asia, it is expected that bullish will be able to secure a bitlicense as soon as possible, opening access to US institutional clients, the analysts write.
Despite conservative assumptions in its forecasts, including Bitcoin’s flat prices by 2027, Canaccord points out early bullish profitability, sheet balance is strengthened by $ 2.4 billion in Bitcoin, and long-term growth prospects as reasons for optimization.
The acquisition of sharing the market
Meanwhile, broker Bernstein began the bullish scope with a market performance rating and a $ 60 target price, featuring the experienced exchange team management and its ambition to be the second largest institutional platform after Coinbase.
That outcome, says the company, the hinges at a successful US launch in 2026, where Coinbase is currently dominant but the opportunities are emerging around Stablecoins, market and index data. Bullish also offers coindesk’s coindesk of potential optionality if it moves to retail exchange services.
“We expect to capture the bullish ~ 8% market sharing in US institutional volumes by 2027E, while sharing the global market part remains at ~ 7%,” the analysts led by Gautam Chhugani wrote.
Side-lined of appreciation
Wall Street Bank JPMorgan (Jpm) Bullish also started scope, which assigns a crypto exchange operator of a neutral rating and a price target of $ 50.
Like Bernstein, JPMorgan’s analyst also taught the experienced bullish team management and the ability to navigate the rapid emerging digital asset landscape.
The bank analyst said growth was likely to be filed by increasing institutional demand for crypto exposure and increasing role of tokens and stablecoins in trading activity.
Bullish is also well positioned to expand in the US market, building the existing Foothold in Europe and Asia. According to the bank, another growth driver is the business of its liquidity services, where clearer regulation can expand the incidence of supported blockchains and tokens, creating a stronger environment for exchanges such as Bullish.
However, JPMorgan noted that the current size of the company remains limited to its market opportunity. In the company in the so -called bank which is a “critical point of maturity,” analysts say appreciation concerns justify to stay on the sides for today.
Shares trade 3.6% lower, around $ 50.53, at the time of publication.
Read more: Bullish gets a careful outlook from the compass point
