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Benchmark reaffirms Buy rating on Bakkt, target price raised to $40
Summary: In a recent update, brokerage firm Benchmark analyst Mark Palmer has raised the target price for crypto infrastructure company Bakkt from $13 to $40, while reaffirming a Buy rating. In early trading, the company's stock rose 2% to around $26. Analysts believe Bakkt's P/E ratio is only 9.9 times the estimated EBITDA for 2026, much ...
In a recent update, brokerage firm Benchmark analyst Mark Palmer has raised the target price for crypto infrastructure company Bakkt from $13 to $40, while reaffirming a Buy rating. In early trading, the company's stock rose 2% to around $26. Analysts believe Bakkt's P/E ratio is only 9.9 times the estimated EBITDA for 2026, much lower than competitors like Coinbase (24.1 times), Robinhood (45.5 times), and Circle (49.9 times). (CoinDesk)
