Rosenblatt Maintains Buy Rating for Bakkt Hldgs: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Rosenblatt has maintained its Buy rating for Bakkt Holdings (NYSE:BKKT) but lowered its price target from $1.70 to $0.75. Despite this, BKKT shares have risen 13.78% in the last 24 hours to $0.66. The new price target suggests a potential 13.65% increase from the current price. Bakkt Holdings operates a technology platform for the digital economy, including crypto and loyalty points redemption, generating revenue through subscription, service, and transaction fees.
March 01, 2024 | 5:00 pm
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Rosenblatt maintains a Buy rating for Bakkt Holdings but lowers its price target from $1.70 to $0.75, indicating a potential upside despite the reduction. Shares have recently risen, reflecting positive market reaction.
The maintenance of a Buy rating by Rosenblatt, despite lowering the price target, suggests underlying confidence in Bakkt Holdings' fundamentals and market position. The recent share price increase reflects positive investor sentiment, potentially buoyed by the analyst's continued support. The lowered price target, while suggesting a reduced valuation, still indicates room for growth from the current price level, which could drive short-term interest and investment in BKKT shares.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100