Clear Street Initiates Buy Rating on Bakkt (BKKT) as Blockchain Pivot Gains Traction

Bakkt Holdings, Inc. (NYSE:BKKT) is one of the top cryptocurrency stocks to buy, according to Wall Street analysts. On September 10, Clear Street initiated coverage of the stock with a Buy rating and a $14 price target. The bullish stance follows the stock’s impressive 8% gain over the past six months.

Clear Street Initiates Buy Rating on Bakkt (BKKT) as Blockchain Pivot Gains Traction

According to Clear Street, Bakkt Holdings’ risk-reward profile has improved significantly as the company continues to divest its non-core businesses, including Loyalty and Custody operations. The research firm is also impressed by the company’s move to reposition itself as a blockchain native payment platform.

Bakkt Holdings, Inc. (NYSE:BKKT) provides technology and infrastructure that enable businesses and financial institutions to participate in the crypto economy through its offerings of crypto trading, custody services, and loyalty solutions via Software as a Service (SaaS) and Application Programming Interface (API) platforms. Their solutions allow clients to enable their own customers to buy, sell, and store crypto, manage loyalty programs, and access other digital asset services.

While we acknowledge the potential of BKKT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BKKT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.