Bernstein analyst Gautam Chhugani raised the firm’s price target on Coinbase (COIN) to $510 from $310 and keeps an Outperform rating on the shares. Coinbase is the most misunderstood company in the firm’s Crypto coverage universe, the analyst tells investors in a research note. Despite multiple growth levers, consensus remains bearish on the largest Crypto universal bank, the firm says, adding that Coinbase will be a beneficiary of the GENIUS Act and soon to follow CLARITY Act.
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