Clear Street initiated coverage of Bakkt (BKKT) with a Buy rating and $14 price target Despite a 63% year-to-date share decline, the firm believes the risk-reward has now skewed positively as Bakkt is shedding non-core businesses – Loyalty & Custody – and repositioning itself as a lean, blockchain-native payments platform, the analyst tells investors in a research note. Clear Street adds that it sees consolidated revenue for Bakkt growing at a 14% CAGR through 2027, supported by steady performance in Crypto Services and accelerating momentum from the DTR platform.
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