This Analyst Sees Huge Upside For Bitcoin Depot, Says Strong Fundamentals & Thriving Bitcoin Market Will Get It There
Portfolio Pulse from Lekha Gupta
H.C. Wainwright & Co. analyst Mike Colonnese has initiated coverage of Bitcoin Depot Inc (NASDAQ:BTM) with a Buy rating and a price target of $6. Colonnese believes BTM's strong fundamentals and the thriving Bitcoin market will drive its growth. He expects BTM to be acquisitive in the coming years in an industry ripe for consolidation. He estimates revenues to grow at a 10% CAGR over the period 2022-2025, with adjusted EBITDA growing at a 26% CAGR over the next three years.
November 06, 2023 | 6:37 pm
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Bitcoin Depot Inc (NASDAQ:BTM) has received a Buy rating from H.C. Wainwright & Co. analyst Mike Colonnese, who expects the company's strong fundamentals and the thriving Bitcoin market to drive its growth. He also expects BTM to be acquisitive in the coming years.
The positive rating from the analyst, along with the expectation of strong fundamentals and a thriving Bitcoin market, could potentially drive the stock price up in the short term. The analyst's expectation of BTM being acquisitive in the coming years also indicates potential growth opportunities for the company.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100