H.C. Wainwright lowered the firm’s price target on Exodus Movement (EXOD) to $25 from $65 and keeps a Buy rating on the shares. The firm cites a “rational reflection of market dynamics” for the target cut. The company’s agreement to purchase W3C for $175M cash deal will be modestly dilutive but brings a personal finance platform, the analyst tells investors in a research note. The firm says adding W3C’s credit card functionality in multiple geographies brings “pizzazz” to Exodus’ wallet platform.
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