Bank of America Raises Coinbase Price Target to $203
Bank of America has raised its price target for Coinbase from $174 to $203 and reiterated its "Buy" rating. The bank expects that after the Federal Reserve's interest rate hike in September, stablecoin revenues will further increase, prompting the upward revision of Coinbase's earnings per share (EPS) expectations for 2027 to 2028. However, due to weakened cryptocurrency trading volumes, Bank of America has lowered its near-term performance expectations for Coinbase, despite Bitcoin and Ethereum rising by 43% and 70% respectively in the third quarter.
-- Price
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