TechFlow News, May 19: According to The Block, on Monday, three Wall Street firms—Benchmark, TD Cowen, and Mizuho—maintained “Buy” ratings on four crypto-related companies: Bitdeer, DeFi Technologies, Strive, and Gemini. They noted that the market continues to value these platforms—which have pivoted toward AI infrastructure, capital markets tools, and structured financial products—using multiples typically applied to trading businesses.
Benchmark analysts reiterated their “Buy” rating on Bitdeer and a $27 price target, highlighting its global power asset portfolio of approximately 3.0 gigawatts and the growth of its AI cloud business’s annual recurring revenue—from roughly $10 million at the end of January to approximately $69 million by the end of April. TD Cowen raised Strive’s price target to $30 and forecasts its Bitcoin yield will reach 26.1% in 2026. Mizuho maintained its “Outperform” rating on Gemini but lowered its price target from $12 to $10, noting that although Q1 trading volume declined by over 50%, trading revenue remained essentially flat—reflecting higher fee rates and an optimized revenue mix.
