Rosenblatt Securities believes Bakkt Holdings Inc’s (NYSE:BKKT) unique position in the cryptocurrency space has created a buying opportunity.
What Happened: Rosenblatt analysts on Wednesday initiated coverage on Bakkt with a Buy rating and set a price target of $2.20, citing the company’s unique ties to digital assets and blockchain technology.
As a result of recent widespread chaos in the crypto industry, Rosenblatt expects the future of decentralized finance to look similar to traditional finance.
“BKKT is positioning itself to win this evolution and we believe it has the platform and technology to succeed,” Rosenblatt analysts wrote in a note to clients.
Bakkt has built scalable infrastructure to help financial institutions better monetize consumers across the crypto ecosystem. The company offers a “one-stop-shop” of payments, crypto, loyalty and rewards, …
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