Baird raised the firm’s price target on Coinbase (COIN) to $215 from $165 and keeps a Neutral rating on the shares. The firm cites ramping stablecoin activity and improving crypto sentiment for the target boost. Recent crypto price appreciation and stablecoin tailwinds for Coinbase are “mildly offset” by weak year-over-year exchange trading volumes quarter-to-date through early March, the analyst tells investors in a research note.
Claim 55% 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:
- CLARITY Act ‘big potential positive catalyst’ for Coinbase, Robinhood, says BofA
- Crypto Currents: Ether surges on staking demand and whale conviction
- Kraken’s Pl Listing Triggers Classic Crypto Trap for Retail Buyers Caught Holding the Bag
- It’s Official: Pi Network (PI) Hits Kraken, Sending Price Soaring
- Crypto Currents: SEC, CFTC sign MOU for Joint Harmonization Initiative