The deal, however, appears to be a "one-off," and unlikely to be replicated.
The firm's analysts expect shareholder approval for the transaction, with no indication of delays to the closing timeline.
Semler trades at a steep discount compared to bitcoin treasury peers, the report said.
Citi's $243 price target suggests roughly 34% upside from last night's close just above $181.
The Wall Street bank started coverage of the stablecoin issuer with an underweight rating and a $80 price target.
Analyst Mark Palmer sees about 50% upside for the shares.
Cantor initiated coverage of SOL treasury companies DFDV, UPXI and HODL with an 'overweight' rating.
Benchmark's Mark Palmer initiated coverage on the firm's roughed-up shares with a buy rating and $3 price target.
The broker initiated coverage of the crypto exchange with a buy rating and a $252 price target.
The broker initiated coverage of the crypto exchange with an overweight rating and a $245 price target.
XRP is uniquely positioned at the heart of of cross-border payments, the report said.
The broker initiated coverage of Coinbase shares with $310 price target and outperform rating.
Bitcoin Miner IREN Upgraded to Overweight, Cipher Mining Cut to Neutral: JPMorgan
The broker started coverage of the self-custody crypto wallet with a buy recommendation and a $38 price target.
The stock could be eligible for S&P 500 index inclusion once it adopts updated FASB accounting standards, the report said.
The three companies offer varying degrees of exposure to the world's largest cryptocurrency, the report said.
The broker initiated coverage of the stock with a buy rating and 60 euro price target.
The bank updated estimates for a number of mining stocks in its coverage following third quarter results and recent gains in bitcoin and the hashrate.
The broker initiated coverage of HIVE with an overweight rating and $9 price target.
The investment bank initiated coverage of the bitcoin miner with a buy rating and a $19 price target.
The broker started coverage of the bitcoin miner with a buy rating and a $16 price target.
The broker upgraded the bitcoin miner's shares to buy from sell and raised its price target on the stock to $13.50 from $7.50.
The current macro backdrop has been positive for crypto market cap growth and trading volumes, the report said.
The business has a number of positive catalysts including its smart wallet Coinbase Prime, layer-2 network Base and its growing international offering, the analysts said.
The crypto firm’s fourth quarter was solid, and commentary about the performance through the end of February was even better, the report said.