BTIG initiated coverage of Coinbase (COIN) with a Buy rating and $410 price target The company is investing in the right areas to create a platform and flywheel between its classic trading business and digital asset applications, the analyst tells investors in a research note. The firm believes Coinbase’s “rapidly scaling” derivatives business and Base App are two growth opportunities underappreciated by investors.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COIN:
- Mixed options sentiment in Coinbase with shares down 0.52%
- Crypto Currents: Tether adds billions as Visa pilots stablecoins
- Visa Stock Rises after Testing Stablecoins as Cash Equivalent for Real-Time Transfers
- BitMine’s Tom Lee Calls ETH a ‘Discount to the Future’ as Bit Digital Targets $100M Raise
- Coinbase call volume above normal and directionally bullish