Bitcoin Depot price target raised to $6 from $5 at Northland

Northland raised the firm’s price target on Bitcoin Depot (BTM) to $6 from $5 and keeps an Outperform rating on the shares. Noting that Bitcoin Depot still has 3,200 kiosks, or 40% of its active fleet of about 8,400, ramping up due to recent placement of less than one year and 2,000 in inventory for future growth, the firm now feels “comfortable” establishing initial 2026 estimates, the analyst tells investors.