Clear Street starts Amber International with Buy on digital asset exposure

As reported last night, Clear Street initiated coverage of Amber International (AMBR) with a Buy rating and $11 price target The stock in late morning trading is down 5% to $5.06. Clear Street believes Amber provides investors “scalable, fee-based exposure” to the adoption of institutional digital assets. The company has wealth management, execution, and payment solutions units which offer high margins, the analyst told investors in a research note. The firm views the shares as attractively valued at current levels.