JPMorgan Lowers Bullish's Price Target Following Removal of IPO One-Time Gains
- JPMorgan maintains "Neutral" rating for Bullish but lowers 2026 price target to $45, excluding $6.2M stablecoin promotion income from IPO proceeds. - Bullish's Q3 results exceeded estimates with $77M revenue and $29M adjusted EBITDA, though JPMorgan forecasts $37M annualized stablecoin revenue by 2027. - Analysts highlight Bitcoin/Ethereum volatility and NY BitLicense approval as potential catalysts for Bullish's trading volumes and institutional growth. - JPMorgan also facilitated $7.9B financing for CD
JPMorgan & Co. has kept its "Neutral" stance on Bullish (BLSH), a digital asset exchange, but
The updated price target suggests a 23.3% potential gain from Bullish's last closing price of $36.50, according to
The bank's evaluation of Bullish comes as broader market forces impact both crypto and traditional stocks. For example, JPMorgan analysts noted that
In another development, JPMorgan
JPMorgan's analysts also highlighted the strength of Bullish's main business, observing that
While JPMorgan remains cautious on Bullish, its broader market commentary underscores the firm's active role in analyzing both digital assets and traditional equities. The company's ability to shift focus between sectors—from AI-focused tech companies to food manufacturers and packaging leaders—demonstrates its all-encompassing approach to capital deployment in a rapidly changing economic landscape.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum News Update: Ethereum Challenges $2,800 Support Level—Is This a Liquidity Rebalance or the Start of a Longer Decline?
- Ethereum stabilizes near $2,800 support, with analysts suggesting potential bottoming after recent volatility. - Market turbulence sees ETH under $2,900, but record staking activity and institutional buying highlight resilience. - On-chain liquidity patterns mirror past reversals, though delayed recovery risks prolonged stagnation. - Extreme fear index (15/100) and $1B+ liquidations signal bearish control, yet key support holds for potential rebound.

Ethereum News Update: Ethereum Challenges $3K Support Level as Bears Target $2.5K and Bulls Strive for a Comeback
- Ethereum fell below $3,000 for first time since July 2024, with spot ETFs recording $74.22M outflow over six days. - Technical indicators show oversold RSI (33.8), 12/0 sell/buy signals, and broken Fibonacci levels triggering automated selling. - Bitcoin's 58.1% dominance siphons capital from altcoins while Ethereum's 0.89 MVRV ratio signals loss-making holder capitulation. - Price tests $2,770 support with $2,500 next target if broken, amid extreme Fear & Greed Index (11) and 18.18% weekly Altcoin Seaso

Ripple News: XRP Price Breaks Below $2 Amid ETF Race, Bitwise Trails Canary
Dogecoin Price Prediction: Will DOGE Recover in December or Fall Further First?
