Bernstein

Bernstein maintained its $36 price target for TeraWulf following the miner's $19 billion lease with Anthropic and a $530 million sale of its Abernathy JV stake. The analyst firm did not adjust its valuation despite the significant financial transactions.

Michael Saylor becomes a major Bitcoin seller. A memecoin is exploited through governance. Bernstein maintains a $150k price target for Bitcoin.

Bitcoin reached its highest price in weeks, and Bernstein analysts reaffirmed their ambitious year-end price target of $150,000 for the cryptocurrency despite acknowledging a recent painful retrace.

Strategy sold 3,588 Bitcoin worth $216 million to fund dividend payments while retaining a $2.55 billion Bitcoin reserve. Wealth manager Bernstein maintained its year-end Bitcoin price target of $150,000.

Bernstein maintains a $150K year-end target for bitcoin despite a 54% drawdown, noting the decline is milder than past cycles.

Bernstein reaffirmed an Outperform rating on Circle with a $190 target despite the launch of new stablecoin rival OUSD, which caused CRCL stock to drop over 17%. The analysis highlights a 203% upside potential for Circle amid competition from OUSD.

Circle CEO highlights USDC's network advantage as OUSD emerges as a potential challenger to the Circle-Tether duopoly. Bernstein notes unresolved governance, operational, and revenue-sharing issues for OUSD.

Bernstein predicts that a rush in prediction-market infrastructure could drive a wave of M&A across consumer platforms. DraftKings' launch of DKeX aims to retain prediction-market revenue in-house amid industry consolidation in trading and betting platforms.

Bernstein reports that platforms are consolidating exchange, clearing, and brokerage infrastructure in-house, potentially leading to a wave of M&A deals while raising antitrust and regulatory risks.

Bitcoin inflows slowed sharply in 2026 as investors shifted to AI-related investments, according to Bernstein. The report highlights a significant shift in capital allocation away from cryptocurrency toward artificial intelligence sectors.

Bitcoin is down about 50% from its peak, but Wall Street researchers argue the selloff reflects a maturing asset. Bernstein predicts Bitcoin could reach $150K this year despite its recent decline.

Bitcoin traded near $63,000 after falling to a two-month low, driven by ETF outflows, macroeconomic uncertainty, and capital shifts to AI stocks. Analysts at Bernstein argue Bitcoin's 'store of value' thesis remains intact, citing institutional adoption and a price target of $150,000 for 2026. The CLARITY Act, aimed at regulating digital assets, advanced in Congress.

Bernstein analysts stated that bitcoin’s 'boring cycle' and $2.6 billion in ETF outflows in 2026 do not undermine its store-of-value thesis. They argue the outflows do not weaken bitcoin’s position as a store of value.

Bernstein has become pessimistic about packaged food stocks, citing inflation and GLP-1 as key challenges. The article references Campbell's Soup cans in a Florida store as an example.

Bernstein is bullish on Bitcoin miners powering the AI boom, assigning 'Outperform' ratings to TeraWulf and Cipher Digital. The firm highlights Bitcoin miners as key enablers of AI growth through energy infrastructure.

Bernstein initiates coverage on Bitcoin miners TeraWulf and Cipher Digital, setting them at Outperform with $36 and $32 price targets. The firm projects AI revenue for these companies to grow ninefold by 2030.

Domino's, a major pizza chain, may introduce a protein-boosted pizza as part of industry trends toward higher-protein menu offerings. Analysts from Bernstein and industry expert Maeve Webster highlighted protein's growing popularity among consumers, citing examples like Starbucks' Protein Lattes and Coca-Cola's exploration of protein-rich beverages.

Analysts predict Bitcoin will reach new record highs in 2026, with a target price of $255K by year-end, considered a conservative estimate. Bernstein and BitMEX co-founder Arthur Hayes also project similar growth. Bitcoin's potential upside is highlighted by these projections.

Bernstein reports that Bitcoin miners control a significant amount of power and have secured substantial AI deals, giving them an edge in data center growth. Miners have 27 GW of planned power and $90 billion in AI deals. This development highlights the strategic importance of Bitcoin miners in AI infrastructure.

Bernstein is bullish on Bitcoin mining firms due to AI compute demand. Companies like IREN, Riot, and CleanSpark are benefiting from this trend. The growth of AI infrastructure is driving their success.

CoreWeave's stock falls due to a new Google cloud venture, which may signal increased competition ahead. A joint venture between Google and Blackstone is not immediately problematic for CoreWeave. The market could get more crowded according to a Bernstein analyst.

Bernstein predicts bitcoin miners will benefit from $90 billion in AI data center deals, giving Outperform ratings to several companies. This investment is expected to boost the performance of these miners. The deal involves multiple major players in the industry.

Arm's stock is predicted to rise by 45% due to its role in the server CPU market, which could reach $137 billion by the end of the decade. The growth is driven by the 'renaissance of CPUs'. Arm is expected to play a key role in this market expansion.

Bernstein analysts stated that the Senate Clarity Act markup and yield compromise will strengthen Circle's model. This development comes as the dollar stablecoin supply reaches a record high. The compromise is seen as a positive step for Circle's edge in the market.

Figure Technology Solutions' Q1 results show uniqueness of blockchain marketplaces, differing from most balance sheet-based fintech lending platforms. Bernstein analysts analyzed the quarterly results. The results highlight Figure's distinct approach.

Bernstein reiterates a $67 target with 72% upside after Q1 loan volumes jumped 113% year-over-year to $2.9 billion. Loan volumes doubled, supporting the tokenization thesis. This indicates significant growth potential.

Bernstein maintained its $190 Circle price target due to ARC presale proceeds and USDC growth. The presale generated $222 million, cushioning rate pressure. This development supports expanding stablecoin payments infrastructure.

Lumentum's stock has been performing well due to growing AI data center connectivity needs. Investors can capitalize on this trend through lesser-known opportunities. Bernstein provides insights into these investment options.

Bernstein analysts have set a $100 target for IREN after NVIDIA's $3.4 billion AI deal, citing a significant cloud contract and potential upside. The deal implies a 76% upside for IREN. This development is expected to impact the market.

Bernstein analysts maintained an outperform rating on Coinbase with a $330 price target despite weaker first-quarter results, citing a 71% upside. The 'everything exchange' strategy is gaining traction. Coinbase's first-quarter results were weaker than expected.

Bernstein highlights a $4T tokenized credit opportunity for Figure Technology stock as it expands beyond home equity lending into blockchain-based credit. Tokenization is beginning to scale across broader loan markets. This expansion represents a significant growth opportunity for Figure Technology.

Institutional investors are entering prediction markets through block trades and custom contracts. This shift is driven by regulatory changes in the US. The sector is still dominated by retail users.

Bernstein maintained a $130 price target for Robinhood following a Q1 earnings miss, citing record 8.8 billion event contracts and a $17 billion margin book as key positives.

Bernstein analysts have downgraded IREN's price target, anticipating a complete exit from Bitcoin mining in favor of significant growth in AI cloud services in the coming years.

Bitcoin miner IREN is transitioning from Bitcoin mining to a $3.7B AI cloud infrastructure business, supported by a Microsoft partnership and GPU expansion. Analysts predict a decline in mining revenue as the company shifts focus.

Bernstein, a financial services firm, predicts renewed asymmetric upside for Bitcoin due to new institutional on-ramps, strong market flows, and exhausted retail selling. The firm anticipates a structurally longer bull cycle for cryptocurrency, indicating optimism about its future performance.

The article discusses China's competitive advantages in the pharmaceutical sector as analyzed by Bernstein's Liang. It highlights factors contributing to China's growing influence in drug development and production.