Barclays analyst Benjamin Budish raised the firm’s price target on Coinbase (COIN) to $365 from $352 and keeps an Equal Weight rating on the shares. The firm updated its model to reflect the close of the Deribit acquisition. Coinbase provided some incremental disclosures that indicate Deribit is run-rating at $240M in annual EBITDA, implying mid-single-digit adjusted EBITDA accretion, the analyst tells investors in a research note.
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