As previously reported, Northland upgraded Bitcoin Depot (BTM) to Outperform from Market Perform with a price target of $5, up from $3.25, following a “strong” Q1 report. Bitcoin Depot’s kiosk strategy is “starting to show results” and the company still has 3,200 kiosks ramping up due to recent placement of less than one year and 2,000 in inventory for future growth, the analyst tells investors.
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