Crypto Platform Bullish (BLsh)The Coindesk parent company received a series of qualifications of shares of Wall Street analysts on Monday, since brokerage companies began the coverage of the actions after its recent OPI.
Rosenblatt Securities began coverage with a purchase rating and an objective price of $ 60, citing changing US political winds and the increase in institutional adoption as key catalysts for growth, the corridor said in a research report on Monday.
The firm argues that Bullish, one of the largest regulated institutional exchanges, is well positioned to capitalize what calls a “dramatic improvement” in the political environment of the United States for digital assets.
Despite not serving American customers, Bullish has already handled more than $ 500 billion in annual negotiation volume, a rosenblatt scale sees as evidence of demand.
It is expected that the next launch of the United States will be an important catalyst, said the corridor, while the passage of the Genius law has opened a new opportunity in Stablecoins. Rosenblatt believes that Stablecoin revenues could provide recurring income less exposed to commercial volatility.
Stablecoin values are linked to assets such as the US dollar or gold. They play an important role in cryptocurrency markets that provide, among other things, a payment infrastructure, and are also used to transfer money internationally. The sector has a market capitalization of approximately $ 280 billion, show Coingcko data, and is dominated by the USDC of the USDT of Tether and the USDC of Circle Internet.
Bullish’s property of media properties and the possible expansion in retail trade add more rise, according to The Note. On that basis, Rosenblatt values the action at 31x projected 2027 Ebitda adjusted, which supports its $ 60 objective.
The ‘Bitlicense’ catalyst
The Rival Corridor Canaccord Genuity has also initiated the coverage of bullish scope with a purchase rating and an objective price of $ 68, highlighting the growing institutional traction of the exchange and the possible impulse of a Bitlicense pending New York.
Founded in 2020, Bullish has quickly become an important player in Crypto Trading, recently leading global regulated exchanges in Spot for Bitcoin commerce volumes ether (Eth)and Stablecoins, according to the report.
The company has expanded beyond negotiation with Coindesk acquisitions in 2023 and CCDATA in 2024, adding media, data and information services to its business lines.
Canaccord analysts also point out Bullish ‘role in the emerging “Wars Stablecoin”, which support the emitters like PayPal (PyPL) And I was générale (GLE) With listings, liquidity and promotion.
Already licensed in Europe and Asia, the bulls are expected to obtain a Bitlicense soon, opening access to institutional clients from the United States, analysts wrote.
Despite the conservative alleged in their forecasts, including the fixed Bitcoin prices until 2027, Canaccord points out the early profitability of Bullish, the general balance reinforced for $ 2.4 billion in Bitcoin and the long -term growth prospects as reasons for optimism.
Market share capture
Meanwhile, the Bernstein corridor has started the coverage of Alcista with a market performance rating and an objective price of $ 60, highlighting the experienced management team of the exchange and its ambition to become the second largest institutional platform after Coinbase.
That result, says the firm, depends on a successful launch of the USA. In 2026, where Coinbase currently dominates, but the opportunities are emerging around the stables, market data and indexes. The Bullish de Coindesk property also offers potential optional if it moves to retail services.
“We hope that Bullish capture ~ 8% market share in institutional cryptographic volumes spot of the USA.
Aligned by assessment
Wall Street Bank JPMorgan (JPM) It has also started the coverage of Alcista, assigning the cryptographic exchange operator a neutral rating and an objective price of $ 50.
Like Bernstein, the JPMorgan analyst also pointed to the experienced Bullish management team and his ability to navigate the panorama of fast evolution digital assets.
The bank analyst said that growth will probably be driven by the increase in institutional demand for exposure to cryptocurrencies and the growing role of tokens and stables in commercial activity.
Bullish is also well positioned to expand to the US market, based on its existing support point in Europe and Asia. According to the bank, another growth driver will be its liquidity services business, where a clearer regulation could expand the range of blockchains and compatible sheets, creating a stronger environment for exchanges such as bullish.
Even so, JPMorgan said that the current scale of the company remains limited in relation to its market opportunity. With the company in what the bank called a “critical expiration point,” analysts said that valuation concerns justify staying out for now.
The shares would quote 3.6% lower, around $ 50.53, at the time of publication.
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