Coinbase price target raised to $300 from $267 at Mizuho

Mizuho analyst Dan Dolev raised the firm’s price target on Coinbase (COIN) to $300 from $267 and keeps a Neutral rating on the shares. The firm’s analysis indicates the bank processors, consumer lenders, and exchanges are best positioned to benefit from interest rate cuts. Exchanges like Coinbase rely on trading commissions, and trading activity tends to rise when rates are lower, the analyst tells investors in a research note. Mizuho believes Coinbase shares deserve credit for the company’s growth, cost management, and secular tailwinds.