JPMorgan initiated coverage of Bullish (BLSH) with a Neutral rating and $50 price target The firm sees the company’s growth be driven by increased institutional interest in the crypto ecosystem, with more tokens and stablecoins trading over time. However, the current business is sub-scale versus the company’s opportunity, and Bullish “is at a critical point of maturity,” the analyst tells investors in a research note. JPMorgan cites valuation for the Neutral rating.
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