Benchmark lowers Bakkt price target to $22 from $40

U.S. investment bank Benchmark has lowered its price target for blockchain infrastructure firm Bakkt to $22 from a previous $40, The Block reported. However, the bank maintained its "Buy" rating for the company. Benchmark noted that after restructuring its business and realigning its strategy, Bakkt is positioning itself as a digital asset infrastructure platform that connects traditional finance, cryptocurrencies, and stablecoins.