Benchmark keeps 'Buy' rating on Securitize with $16 target ahead of NYSE listing

Benchmark Equity Research has maintained its 'Buy' rating and a $16 price target for tokenization infrastructure firm Securitize ahead of its planned listing on the New York Stock Exchange (NYSE), The Block reported. Last week, the U.S. SEC declared the company's merger registration statement effective, with a shareholder vote scheduled for June 29. If approved, the merged entity will trade on the NYSE under the ticker 'SECZ'. Benchmark analyst Mark Palmer explained that the company's stock could prove to be a positive exception at a time when investor sentiment for digital asset-related stocks is at a low point. However, the research firm also cited regulatory uncertainty, the pace of adoption, and dependency on partners as potential risks. Securitize supports the operation of BlackRock's BUIDL fund and had $3.4 billion in tokenized assets under management as of March 31.