HC Wainwright & Co. Maintains Buy on Bitcoin Depot, Lowers Price Target to $5
Portfolio Pulse from Benzinga Newsdesk
HC Wainwright & Co. analyst Mike Colonnese maintains a Buy rating on Bitcoin Depot (NASDAQ:BTM), but lowers the price target from $6 to $5.

March 19, 2024 | 3:49 pm
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NEUTRAL IMPACT
Bitcoin Depot's price target was lowered from $6 to $5 by HC Wainwright & Co., although the Buy rating was maintained.
The reduction in price target could have a mixed impact on Bitcoin Depot's stock. While the lowered target suggests a tempered expectation for the stock's performance, the maintenance of a Buy rating indicates a continued positive outlook on the company's fundamentals. Investors might react cautiously to the new price target, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90