Bernstein raises Robinhood PT on extended crypto bull market
Brokerage Bernstein raises price target of trading platform Robinhood HOOD.O to $160 from $105, citing extended bull run in the crypto markets
Bernstein expects Bitcoin and other cryptocurrencies to rally through 2026 and peak in 2027, a cycle it says boosts trading volumes at crypto exchanges
The brokerage sees Trump administration's push to make the U.S. a global crypto hub as a key driver of this extended bull market
Shares of HOOD rise about 0.6% to $115.7 in pre-market trading
Analysts also say HOOD's acquisition of Bitstamp and its rollout of staking and tokenized products in Europe will also drive growth
16 of 24 brokerages rate the stock "buy" or higher, 7 "hold" and 1 "sell" or lower; their median PT is $114.5 - data compiled by LSE
As of last close, stock has nearly tripled to gain ~191%YTD
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