Circle (CRCL), Bullish (BLSH) and Coinbase (COIN) Citi’s top picks in crypto
Wall Street bank Citigroup refreshed its digital-assets stock coverage to reflect recent across-the-board declines in crypto, but remains constructive on the sector.
“Despite recent token volatility, we remain bullish on digital assets stocks,” wrote analysts led by Peter Christiansen, in a Friday report.
Issuer of the USDC stablecoin, Circle Financial (CRCL) remains Citi’s top pick, with the team reiterating its $243 price target even after the stock’s large recent drop to the current $83.60.
Christiansen’s next top picks were Bullish (BLSH) and Coinbase (COIN). “We see BLSH in the sweet spot benefiting from rising institutional (particularly in the U.S.) and TradFi participation,” he wrote. BLSH’s price target was cut to $67 from $77,…
