Bakkt price target lowered to $19 from $22 at Benchmark

Benchmark lowered the firm’s price target on Bakkt (BKKT) to $19 from $22 and keeps a Buy rating on the shares. Bakkt’s Q1 report “underscored the reality that the company is executing one of the more dramatic strategic pivots occurring anywhere across the digital asset landscape,” says the analyst, who sees the company repositioning itself as regulated infrastructure for stablecoin settlement, cross-border payments, programmable finance and the agentic economy.