Eric Trump-Backed American Bitcoin Down Over 60% In A Month, Yet This Analyst Just Initiated ‘Buy’ Rating For ABTC Stock

American Bitcoin Corp. (NASDAQ:ABTC) may have been encountering heavy sell-offs lately, but a Roth Capital analyst painted a more than 100% upside for the stock on Wednesday.

‘Buy’ Rating For American Bitcoin

Roth Capital analyst Darren Aftahi initiated coverage of ABTC with a “Buy” rating and announced a price target of $4, according to Benzinga, representing a 106% upside from Wednesday’s closing price.

Aftahi is found to be correct 47% of the time.

Interestingly, Roth Capital is the underwriter for a special-purpose acquisition company called Colombier Acquisition Corp. III, which lists Donald Trump Jr. as a director, per a Reuters report.

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Full story available on Benzinga.com