HC Wainwright & Co. Maintains Buy on Bitcoin Depot, Lowers Price Target to $4
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 $5 to $4.
March 26, 2024 | 10:19 am
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NEGATIVE IMPACT
Bitcoin Depot's Buy rating is maintained by HC Wainwright & Co., but the price target is reduced from $5 to $4.
The reduction in the price target from $5 to $4 by a reputable analyst firm like HC Wainwright & Co. could lead to a negative short-term sentiment among investors, potentially causing a decrease in the stock price. However, the maintenance of a Buy rating indicates a positive outlook on the company's fundamentals, which might mitigate some of the negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100