Bernstein sees Bullish emerging as second-largest institutional crypto exchange after Coinbase
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最新报道：Bernstein initiates coverage on Bullish with a $60 price target and "market-perform" rating, citing its institutional exchange expertise and potential to become the second-largest crypto exchange behind Coinbase. The firm expects Bullish to capture 8% of U.S. institutional spot volumes by 2027, with revenue projected to grow from $213 million in 2024 to $377 million in 2027. Analysts caution that investors await evidence of U.S. execution success, given the stock's premium valuation at 28x estimated 2027 EBITDA.
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