Bitcoin Reclaims $84K, Boosting Crypto Stocks Amid Analyst Disagreements
Crypto-linked stocks rose on Tuesday as Bitcoin reclaimed $84,000, bolstering digital-asset equities despite mixed analyst calls across the sector.
B. Riley raised its price target on Riot Platforms (RIOT) to $33 from $28 while maintaining a 'Buy' rating. The firm cited regulatory uncertainty, higher yields, and slower leasing activity as factors weighing on valuations.
In contrast, Keefe Bruyette cut its price targets for Bullish (BLSH) and Gemini (GEMI), citing concerns around tokenization, market share, and profitability. BLSH's pending acquisition of Equiniti shifts the investment thesis toward the combined company, but Keefe Bruyette questioned whether the $4.14 billion purchase price can be justified.
Keefe Bruyette also raised its price target on Robinhood to $115 from $100, citing stronger-than-expected quarter-to-date volumes in equities, options, and crypto. HOOD stock gained about 1%, while Strategy (MSTR) edged 0.13%.