Bakkt (BKKT) Reboots With Fresh Strategy; Initiate at Buy with $13 Price Target: Benchmark

Bakkt (BKKT) Reboots With Fresh Strategy; Initiate at Buy with $13 Price Target: Benchmark

Bakkt Holdings (BKKT) is trying to reboot after a turbulent few years, Wall Street broker Benchmark said in a Monday report initiating coverage of the stock.Benchmark started coverage of the firm with a buy rating and a $13 price target. The shares climbed 1.3%, trading around $8.63 at publication time.Under new CEO Akshay Naheta, the firm has shed its custody arm and is selling off its legacy loyalty business, moves meant to streamline operatio…

Benchmark initiates ‘buy’ rating for beleaguered crypto infra company Bakkt, citing strategic pivot – MAXBIT

Analyst Mark Palmer initiated a “buy” rating for BKKT, arguing the company is due for “a fresh start,” according to a note on Monday. Source link

Benchmark Says Bakkt’s Licenses Support New Crypto-Focused Business Model

Broker Benchmark reportedly initiated coverage of Bakkt with a buy rating, saying the company’s regulatory footprint supports its efforts to “reboot” by shedding parts of its business and sharpening its focus on a “brokerage-in-a-box” for institutions, a bitcoin treasury program and a stablecoin payments network. Bakkt’s BitLicense and money transmitter licenses in 50 states give it a key advantage, Benchmark Equity Research Analyst Ma…