Citi analyst Peter Christiansen initiated coverage on Securitize Corp (NYSE: SECZ) with a Buy rating and a price target of $10.00, according to a press release statement. Shares of the company most recently closed at $7.47.

Christiansen cited the company's vertically integrated, SEC-regulated platform as a competitive advantage, with clients including BlackRock and KKR. "We rate Securitize (SECZ) Buy/High Risk with a $10 price target, viewing it as the critical infrastructure for the tokenization of real-world assets," the analyst said.

The analyst identified several near-term risks, including heavy client concentration in BlackRock's BUIDL fund, interest rate sensitivity, and an uncertain path to high-margin transactional revenue. Christiansen noted that a bull case price target of $15 would require asset under management diversification beyond BUIDL and an increase in secondary trading volumes on its alternative trading system.