JPMorgan Chase maintains a neutral rating on Bullish, but lowers its 2026 price target to $45.

According to The Block, JPMorgan Chase maintains a "neutral" rating on cryptocurrency exchange Bullish (BLSH), despite its better-than-expected Q3 results. However, it lowered its 2026 price target from $46 to $45, excluding stablecoin interest income from its IPO. The new target price represents approximately 23.3% upside from the current closing price of $36.5. Analysts expect increased market volatility in Q4 to improve the trading environment and are optimistic about the early launch of Bullish's options products and growth in institutional clients.