Coinbase price target raised to $470 from $300 at Rosenblatt

Rosenblatt raised the firm’s price target on Coinbase (COIN) to $470 from $300 and keeps a Buy rating on the shares. The firm says that with bitcoin prices all-time highs amid favorable political tailwinds, Coinbase shares are up 50% over the last month. The analyst remains remains bullish “for several reasons.” Legislative progress is tracking ahead of expectations and should provide further tailwinds once signed into law while trading volume has recently rebounded, the analyst tells investors in a research note.