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.

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 as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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