Citi and Canaccord Boost Bullish’s Outlook After Strong IPO and BitLicense Approval
- Citi raised its price target on Bullish (BLSH) to $70 from $66 following Q2 results that surpassed expectations.
- The approval of the NYDFS BitLicense alleviates regulatory concerns, enhancing investor confidence for FY 2026.
- Broker Canaccord noted Bullish’s strong debut as a public company, with solid Q3 pricing trends and plans to launch options trading in Q4.
- Canaccord maintained a buy rating with a target of $68, citing conservative forward estimates despite early momentum.
- KBW acknowledged the BitLicense as positive for U.S. expansion but highlighted challenges in brand recognition in new markets.
- Bullish shares rose over 8%, trading at approximately $58.18 at publication time.
The recent approval of the NYDFS BitLicense is crucial for Bullish, facilitating its entry into the U.S market and boosting investor sentiment. With strong Q2 results and plans for future trading options, the company is positioned for significant growth.
Citi’s revised price target reflects confidence in Bullish’s trajectory, particularly after reporting a solid quarterly performance and securing key regulatory approvals. (Source)
