Northland raised the firm’s price target on Bitcoin Depot (BTM) to $7 from $6 and keeps an Outperform rating on the shares after having hosted a virtual fireside chat with the management team on June 4 to discuss the current trends across the business, as well as the outlook for 2025 and 2026. The firm believes Bitcoin Depot’s significant deployment and redeployment activity in 2024 has “laid the foundation for breakout years in 2025 and 2026,” the analyst tells investors following the management call.
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