Huabei adjusts the target stock prices of some crypto stocks downward, but remains optimistic about the industry.

On December 20, according to CoinDesk, Wall Street bank Citigroup updated its digital asset stock report, lowering the target prices for some crypto stocks amid the recent broad decline in the crypto market, but still maintaining a positive outlook on the sector. Analysts Peter Christiansen and his team stated in their report on Friday: “Despite recent increased volatility in tokens, we remain optimistic about digital asset stocks.” The issuer of stablecoin USDC, Circle Financial (CRCL), remains Citigroup’s top pick, with the team reaffirming its $243 target price, even though the stock has recently fallen significantly to the current price of $83.60. Christiansen’s next selected stocks are Bullish (BLSH) and CEX (COIN). He said, “We believe BLSH is well-positioned to benefit from increased participation by institutional investors (especially in the US) and traditional finance (TradFi).” The target price for BLSH has been lowered from $77 to $67, but still has considerable upside potential compared to the current $44. The target price for COIN remains at $505, with the current stock price at $242. MicroStrategy (MSTR), rated as a “Buy,” recently dropped to about $160, and its target price has been lowered from $485 to $325, but still implies approximately 100% upside potential.