Citigroup’s Top Crypto Stock Picks Are Circle And Bullish Analysts at Wall Street bank Citigroup (NYSE: $C) say Circle Internet Group (NYSE: $CRCL) and Bullish (NYSE: $BLSH) are the two best cryptocurrency stocks to buy now.  Citigroup remains constructive on the crypto sector despite ongoing legislative uncertainty surrounding digital asset regulations and volatile price movements in Bitcoin (CRYPTO: $BTC).   Analysts at Citigroup say that their top overall pick in the crypto space is stablecoin issuer C ...

Core Viewpoint - Citigroup has lowered its 12-month price targets for Bitcoin and Ethereum, leading to reductions in stock price targets for several cryptocurrency companies due to delays in the CLARITY Act progress [1][2]. Cryptocurrency Price Targets - Bitcoin forecast reduced from $143,000 to $112,000 [1] - Ethereum forecast reduced from $4,304 to $3,175 [1] Company-Specific Stock Price Target Adjustments - MicroStrategy's stock price target cut by 20% from $325 to $260, maintaining a "Buy" rating; the company holds 761,068 Bitcoin, representing 3.6% of total BTC supply [3] - Bullish's stock price target lowered from $67 to $65, with a "Buy" rating; stock closed at $38.28, down over 4% [5] - Riot Platforms' stock price target reduced from $23 to $21, while keeping a "Buy" rating; stock closed at $14.10, nearly 4% lower [6][8] - BitGo's stock price target trimmed from $18 to $17, maintaining a "Buy" rating; stock closed around 6% lower at $10.08 [9]

Supporting her view, Needham analyst Joshua Reilly, on March 13, reiterated Zoom with a Buy rating and maintained a $100 price target.Talkington also named Zoom as her final trade on March 6.Zoom posted mixed fourth-quarter results in February. Adjusted earnings per share of $1.44 missed the $1.49 consensus estimate, while revenue of $1.247 billion edged past the $1.232 billion forecast, according to Benzinga Pro data.Don't forget to check out our premarket coverage hereJim Lebenthal, partner at Cerity Part ...

Core Insights - The sector has experienced a downturn this year, leading to a perception that stocks are becoming undervalued and may present buying opportunities [1] Group 1 - The sector has taken a hit this year [1] - Stocks in the sector are starting to look like bargains [1]

Group 1 - Morgan Stanley and Citigroup are clients of Janus that are interested in a potential deal with Trian and General Catalyst [1]

Core Viewpoint - Netflix is now in a stronger position to increase subscription prices due to reduced M&A and regulatory scrutiny, according to Citi analyst Jason Bazinet [1] Group 1 - The company has successfully navigated past challenges related to mergers and acquisitions [1] - Regulatory pressures that previously impacted pricing strategies have lessened [1] - This improved environment allows for potential price hikes in subscription services [1]

Core Viewpoint - Mark Mason has dedicated over 20 years to managing the complexities of a large megabank and is now poised to take leadership at a new financial institution [1] Group 1 - Mark Mason's extensive experience in the banking sector positions him as a capable leader for the new financial entity [1] - The transition from a megabank to a new shop indicates a strategic shift in Mason's career, focusing on more manageable operations [1]

Group 1 - The National Stock Exchange (NSE) has set advisory fees at approximately 0.65% of the expected $2.5 billion (around Rs 23,085 crore) IPO, resulting in a total fee pool of about $16.25 million, primarily shared among six lead banks [1][5] - This fee structure is lower than the average fees of 1.86% paid by 417 companies last year and 1.67% by 350 issuers in 2024, indicating a trend of cost control in government-linked transactions [1][5] - NSE appointed around 20 banks for the IPO, with Kotak Mahindra Capital Co, JM Financial Ltd, Morgan Stanley, HSBC Holdings Plc, Citigroup Inc., and JPMorgan Chase & Co. taking key roles, highlighting the competitive nature of the advisory market [5] Group 2 - The modest fee reflects a broader trend in India where issuers, particularly in government-related transactions, maintain strict cost controls, sometimes leading banks to accept minimal fees for prestige and positioning [3][4] - Comparatively, private-sector IPOs have been more lucrative, with Hyundai Motor India's record IPO in 2024 paying about 1.77% in fees, and LG Electronics paying 1.94% for its $1.3 billion listing [5] - The fee paid by NSE is viewed as relatively fair compared to large state-owned institutions, providing not only immediate revenue but also a strategic foothold in the capital markets [4]

Core Insights - Citigroup has revised its 12-month Bitcoin price target down from $143,000 to $112,000, indicating a cooling of post-election market enthusiasm [1][3][8] - The bank has also cut its Ethereum target from $4,304 to $3,175, reflecting similar concerns about regulatory delays impacting institutional adoption [3][8] Regulatory Environment - The window for U.S. crypto legislation is narrowing, which is expected to delay institutional capital inflows that were anticipated for Q1 [4][8] - The lack of clear frameworks on market structure and stablecoins is a significant barrier to the expected influx of institutional capital [4] Market Dynamics - Despite Citigroup's cautious stance, BlackRock has made a substantial investment of $600 million in Bitcoin, indicating a divergence in outlook between large asset managers and Citigroup [5] - Large Bitcoin wallets have resumed accumulation, which typically precedes price expansion, but the lack of legislative clarity may push this expansion further into 2026 [6] Price Targets and Scenarios - The bullish case for Bitcoin involves reclaiming $92,000 on high volume, which would invalidate the bearish thesis and open the path to $112,000 [6] - The bearish case suggests that losing the $84,000 level could lead to prices drifting toward lower liquidity zones, with Citigroup's bearish target set at $78,500 [7]

Group 1 - The digital wallet Paze will soon be available to Citi cardholders, enhancing its reach among consumers [3][7] - Early Warning Services (EWS), which owns Paze, is backed by seven major banks including Bank of America and JPMorgan Chase [3][7] - Approximately 165 million credit and debit cards have been integrated into Paze, indicating significant growth since its launch [3][4] Group 2 - Paze was launched in 2023 but initially faced challenges, aiming to be added to 150 million Visa and Mastercard cards on its first day [4] - The company has partnered with Fiserv to expand its customer base and improve its market presence [4] - Merchants accepting Paze payments include notable retailers such as ShopRite, Zales, Sephora, Whataburger, and Xsolla [5]