Bullish shares down after Rosenblatt cuts rating

Bullish

09/04/2026 13:32

** Shares of crypto-exchange Bullish BLSH.N dip 2.3% premarket to $37.73

** Rosenblatt Securities downgrades stock rating to "neutral" from "buy", maintains PT at $39

** "With crypto activity collapsing and a fading tailwind from IPO proceeds in non-trading revenues, we think estimates are increasingly at risk," Rosenblatt says

** Separately, Jefferies trims BLSH PT to $40 from $42

** Average rating of 12 analysts is "buy"; their median PT is $43 - LSEG-compiled data

** Up to Wednesday's close, stock had risen ~2% YTD

 (Reporting by Joel Jose in Bengaluru)

 ((joeljose@thomsonreuters.com))