Bullish initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Bullish (BLSH) with an Overweight rating and $56 price target. The firm views Bullish as an institutional play on crypto between its exchange and its indices business, the analyst tells investors in a research note. Over the long-term, Cantor believes will be able to continue to take share across spot trading, and coupled ith its indices and data business, Bullish could be the crypto-equivalent of IntercontinentalExchange (ICE) or Nasdaq (NDAQ), which is its main differentiation across the space.