BitGo price target lowered to $15 from $17 at Rosenblatt

Rosenblatt analyst Chris Brendler lowered the firm’s price target on BitGo (BTGO) to $15 from $17 and keeps a Buy rating on the shares. Although Q4 results were just inline and the core business will be under market-related pressure in Q1, BitGo’s first quarterly earnings report “strongly supports our case that the stock represents a defensive way to gain exposure to crypto equities,” the analyst tells investors.