JPMorgan Lowers Bullish's Price Target Following Removal of IPO One-Time Gains
- JPMorgan maintains "Neutral" rating for Bullish but lowers 2026 price target to $45, excluding $6.2M stablecoin promotion income from IPO proceeds. - Bullish's Q3 results exceeded estimates with $77M revenue and $29M adjusted EBITDA, though JPMorgan forecasts $37M annualized stablecoin revenue by 2027. - Analysts highlight Bitcoin/Ethereum volatility and NY BitLicense approval as potential catalysts for Bullish's trading volumes and institutional growth. - JPMorgan also facilitated $7.9B financing for CD
JPMorgan & Co. has kept its "Neutral" stance on Bullish (BLSH), a digital asset exchange, but
The updated price target suggests a 23.3% potential gain from Bullish's last closing price of $36.50, according to
The bank's evaluation of Bullish comes as broader market forces impact both crypto and traditional stocks. For example, JPMorgan analysts noted that
In another development, JPMorgan
JPMorgan's analysts also highlighted the strength of Bullish's main business, observing that
While JPMorgan remains cautious on Bullish, its broader market commentary underscores the firm's active role in analyzing both digital assets and traditional equities. The company's ability to shift focus between sectors—from AI-focused tech companies to food manufacturers and packaging leaders—demonstrates its all-encompassing approach to capital deployment in a rapidly changing economic landscape.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP News Today: Altcoin ETFs See $476M Inflows While Bitcoin ETFs Experience Unprecedented Outflows
- Solana and XRP ETFs attract $476M and $411M in inflows, contrasting Bitcoin's $903M outflows amid market volatility. - Bitwise's BSOL leads Solana inflows with $36M daily additions, while XRP ETFs face price declines despite strong capital inflows. - Institutional demand shifts toward altcoin ETFs with staking yields, contrasting Bitcoin's struggles with macroeconomic uncertainty and Fed policy risks. - Analysts highlight ETFs as long-term adoption catalysts, though XRP's structural fragility and low ope

Kalshi Secures $1 Billion, Valuation Hits $11 Billion
Crypto Whale Realizes $1.38M Profit on ETH Long
US Probes Bitmain for National Security Concerns