Coinbase price target raised to $293 from $269 at Oppenheimer

Oppenheimer raised the firm’s price target on Coinbase (COIN) to $293 from $269 and keeps an Outperform rating on the shares. After the close on May 12, the S&P Index Committee announced that Coinbase would be included in the S&P 500 index as of May 19. The firm says it has been predicting this as one of the key catalysts for Coinbase in 2025, and it has finally arrived. Oppenheimer believes the inclusion has huge implications for Coinbase and the crypto industry as a whole. Getting into the S&P 500 not only increases purchases from index funds, but also puts Coinbase under a closer radar of non-index funds that benchmark against the S&P 500, it adds.