Citigroup lowered price targets for some crypto stocks but remains bullish on the sector.

On December 20th, according to CoinDesk, Wall Street bank Citigroup updated its digital asset stock report, lowering its target prices for some crypto stocks despite the recent general decline in the crypto market. Analyst Peter Christiansen and his team stated in a Friday report, "Despite recent increased token volatility, we remain bullish on digital asset stocks." Circle Financial (CRCL), the issuer of the stablecoin USDC, remains Citigroup's top pick, with the team reiterating its $243 price target, even though the stock has recently fallen significantly to its current price of $83.60.

Christiansen's next stock picks are Bullish (BLSH) and Coinbase (COIN). He stated, "We believe BLSH is well-positioned to benefit from increased participation from institutional investors (especially in the US) and traditional finance (TradFi)." His price target for BLSH was lowered from $77 to $67, but this still represents significant upside from the current price of $44. The price target for COIN remains at $505, with the current share price at $242. MicroStrategy (MSTR), rated "Buy," recently fell to around $160, and its price target was also lowered from $485 to $325, but still suggests approximately 100% upside potential.