Reported 24 days ago
Bernstein has raised the price target for Coinbase Global, Inc. (NASDAQ:COIN) from $310 to $510 while maintaining an 'Outperform' rating, calling it the 'most misunderstood company' in the crypto sector. The firm highlights Coinbase's dominance in the US crypto market, noting that it derives substantial revenue from its stablecoin business and institutional services, including custody for Bitcoin ETFs. Bernstein anticipates significant earnings growth for Coinbase, driven by new US legislation and the company's strategic acquisitions.
Source: YAHOO