Bakkt Holdings (BKKT) He is trying to restart after some turbulent years, said Wall Street Broker Benchmark in a Monday report that begins the coverage of the actions.
Benchmark began the company’s coverage with a purchase rating and an objective price of $ 13.
The shares rose 1.3%, quoting around $ 8.63 at the time of publication.
Under the new CEO Akshay Naheta, the firm has thrown its custody arm and is selling its inherited loyalty business, the movements destined to rationalize the operations and restore the confidence of investors, the report said.
The company’s strategy now depends on three initiatives: a “brokerage in the box” that allows banks and Fintech to connect cryptographic services; A multinational Bitcoin Treasury program anchored by a planned participation in Marush Hotta and Japan expansion in India and South Korea; and a Stablecoin payments called Agent Bakkt, developed with distributed technologies research (Dtr)Analyst Mark Palmer wrote.
A key advantage, Palmer said, is Bakkt’s regulatory footprint. It has money and money transmitter licenses in the 50 states, which gives it a pit of compliance in a field full of people.
The Bakkt reference values in 5x EV/EBITDA in the 2026 projected profits, landing in its $ 13 objective.
Read more: Bakkt appoints Akshay Naheta as co-zo in the middle of Stablecoin Payments Push
