Bullish Assigned $55 Target by KBW; Expansion Into U.S. Viewed as Main Catalyst

KBW Starts Bullish Coverage With $55 Target, Neutral Rating
KBW has initiated coverage of Bullish (BLSH), the parent company of CoinDesk, with a market perform rating and a $55 price target. The bank highlighted U.S. expansion as a near-term catalyst and pointed to Bullish’s low fees, strong liquidity, and broad regulatory licenses across Germany, Hong Kong, and Gibraltar. KBW also cited Bullish’s acquisitions of CoinDesk and CCData, which could generate over 40% of revenue by FY27. Shares were last seen near $51.81.

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