Benchmark Reiterates Buy on Securitize, Cuts PT to $10

The split signal — conviction intact, target trimmed — says more about the analyst's sector assumptions than about the company itself. Tokenization's real test is whether issuance pipelines convert into recurring revenue, not whether one desk keeps a Buy. The open question is whether other coverage follows the target lower or holds, since that would mark whether this is a stock-specific reset or a broader repricing of RWA platform expectations.