After Bakkt (BKKT) announced that it has agreed to acquire Distributed Technologies Research for about $150M in stock, Clear Street analyst Brian Dobson says the strategic acquisition improves the company’s platform capabilities and is likely to win shareholder approval. The firm, which continues to view shares positively as the company’s stablecoin business expands, has a Buy rating and $39 price target on Bakkt shares.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BKKT: