Citi Updates Crypto Stock Price Targets Following Sector Declines in Q4
Citi has revised its price targets for various crypto-related stocks to reflect declines observed in the fourth quarter across the digital-asset sector, according to a report led by Peter Christiansen. Despite these reductions, Citi remains constructive on digital-asset stocks overall.
Circle Financial (CRCL) remains Citi's top pick with a price target of $243, significantly above its current price of around $83.60. For Bullish (BLSH), the price target was cut to $67 from $77, with the current price near $44; Citi cited rising institutional and traditional finance participation as a positive factor.
Coinbase (COIN) had its price target held steady at $505, with a current trading price of about $242. MicroStrategy (MSTR) saw its price target reduced to $325 from $485, with the current price around $160, implying about a 100% upside potential.
Riot Platforms (RIOT) price target was trimmed to $23 from $28, with a current price near $14, although Citi remains positive on bitcoin miners. Gemini (GEMI) experienced a price target cut to $13 from $16, trading currently around $11, due to increasing competitive challenges faced by the firm.
Overall, the report reflects an adjustment in expectations following bitcoin's disappointing performance in Q4 but maintains a generally optimistic outlook for the digital-assets stock sector.
