2 weeks ago
The broker's $310 terms people suggests much than 60% upside from COIN's adjacent connected Monday.
Mar 18, 2025, 12:42 p.m. UTC
The crypto manufacture is expected to articulation the fiscal mainstream successful the U.S. arsenic the regulatory situation improves, and Coinbase (COIN) is good positioned to payment from these tailwinds, broker Bernstein said successful a study Monday.
Bernstein initiated sum of the crypto speech with an outperform standing and a $310 terms target. The shares dropped 2% to $185.20 successful aboriginal trading.
Regulatory clarity volition effect successful much contention for Coinbase from fintech companies, brokers and banks, the study said.
Still, a "strong bull marketplace and rising U.S. onshore dominance" is expected to much than offset marketplace stock and pricing pressures, analysts led by Gautam Chhugani wrote.
An improving regulatory backdrop nether Donald Trump's caller medication is viewed arsenic a immense tailwind for integer assets, and the President has promised to marque the U.S. the "crypto superior of the world."
The Securities and Exchange Commission (SEC) has formed a caller crypto task force led by Commissioner Hester Peirce to draught caller regularisation for the industry.
Coinbase has done good to diversify beyond trading, the study said, and the speech present has a beardown beingness successful U.S. dollar stablecoins and crypto output services, specified arsenic staking.
Bernstein said it expects Coinbase to turn non-trading revenues by astir a 31% compound yearly maturation complaint (CAGR) betwixt 2024-2026.
This provides a "strong equilibrium to cyclicality of trading revenues," the study added.
Coinbase precocious secured FIU registration, paving the mode for a instrumentality to the Indian market, the institution said successful a blog station earlier this month.
Read more: Coinbase Plans India Comeback After Securing Regulatory Registration With FIU
Will Canny
Will Canny is an experienced marketplace newsman with a demonstrated past of moving successful the fiscal services industry. He's present covering the crypto bushed arsenic a concern newsman astatine CoinDesk. He owns much than $1,000 of SOL.
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