Mizuho lowered the firm’s price target on Gemini (GEMI) to $12 from $26 and keeps an Outperform rating on the shares. The firm says a softer outlook for trading activity offsets continued strength in Gemini’s card and services businesses. The company’s near-term revenue growth could be constrained by a softer outlook for asset prices and lower transaction volumes across its core exchange, the analyst tells investors in a research note.
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