Deutsche Bank is adopting a more optimistic stance on Bullish moving forward. The bank upgraded shares of the cryptocurrency exchange to buy from hold. However, it slightly lowered its target price to $51 from $52. Shares of Bullish are down slightly from their IPO price of $37 per share. The stock opened at $90 on the New York Stock Exchange in August. Bedell’s updated forecast implies an upside of 40%. Shares have since tumbled 51% from their highs of the year, opening up an attractive entry point, said analyst Brian Bedell. “We see the stock now offering a more compelling risk/return profile, trading at 31x our 2027 EPS estimate, after contracting over 50% from its peak in mid-August and with the shares now 5% below the August 12 IPO…
