BUZZ-Wells Fargo initiates Bitgo at 'overweight' on growing crypto custody adoption
Reuters
Feb 17
BUZZ-<a href="https://laohu8.com/S/EOD">Wells Fargo</a> initiates Bitgo at 'overweight' on growing crypto custody adoption
** Wells Fargo initiates coverage of crypto custody firm Bitgo BTGO.N with "overweight" rating; sets PT of $13
** Says adoption of crypto by large financial institutions (FIs) is still in the early innings and BTGO has first-mover advantage with strong compliance protocols
** Given its strong emphasis on secure storage, BTGO has developed strong partnerships with FIs, crypto providers and tech platforms - Wells Fargo
** Adds that while BTGO is not immune to crypto volatility, it is more insulated than most
** Including session's moves, BTGO down 55.6% since its debut on January 22
(Reporting by Pragyan Kalita in Bengaluru)
((Pragyan.Kalita@thomsonreuters.com;))
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