Bank of America Raises Coinbase Price Target to $203 From $174
The bank also raised its 2027 and 2028 earnings estimates as it expects stablecoin revenue to grow after the Fed’s September rate hike.
On Oct. 5, Bank of America raised its price target for Coinbase to $203 from $174 and reaffirmed its buy rating, while lowering its near-term performance expectations as cryptocurrency trading volumes weakened.
The bank expects stablecoin revenue to grow after the Federal Reserve’s September rate hike and raised its earnings estimates for Coinbase in 2027 and 2028.
Bitcoin (BTC) and Ether (ETH) rose 43% and 70%, respectively, in the third quarter. The gains came as crypto trading volumes softened, prompting the lower near-term expectations.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.