Noble Capital raised the firm’s price target on Bitcoin Depot (BTM) to $9 from $7 and keeps an Outperform rating on the shares after the company announced that it had acquired the assets of Pelicoin, a crypto ATM company with operations in the Gulf South. The firm, which is maintaining its revenue and adjusted EBITDA forecasts for 2025, notes that shares have traded up roughly 200% since the company reported strong Q1 results in mid-May, but believes “there is still room for upside.”
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