Coinbase Global Inc. (COIN) PT Raised to $140 at Canaccord Genuity, Sees "follow-through momentum in Q2"

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Go back to Coinbase Global Inc. (COIN) PT Raised to $140 at Canaccord Genuity, Sees "follow-through momentum in Q2"

Coinbase (COIN) price target doubled at Canaccord Genuity on ETFs and Ripple v. SEC decision

August 1, 2023 8:56 AM EDT

Cryptocurrency exchange Coinbase (NASDAQ: COIN) has its fair share of sceptics amid the regulatory crackdown on the sector and fading cryptocurrency interest. However, one analyst is going out on a limb today and doubled his price target on the stock amid the recent big boy bitcoin ETF applications and a positive read-through on the Ripple v. SEC decision.

Canaccord Genuity analyst Joseph Vafi doubled his price target on the stock to $140 from $70, while reiterating a Buy rating. The new price target suggests 42% upside to Monday's closing... More