Coinbase shares are trading higher amid a rebound in crypto stocks. Keefe, Bruyette & Woods maintained its Market Perform rating on the stock but raised its price target from $160 to $230.
Portfolio Pulse from Benzinga Newsdesk
Coinbase shares are experiencing an uptick as part of a broader recovery in cryptocurrency-related stocks. Financial services firm Keefe, Bruyette & Woods has reaffirmed its Market Perform rating for Coinbase but increased its price target for the stock from $160 to $230.
April 03, 2024 | 5:53 pm
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Coinbase's stock is trading higher, buoyed by a general recovery in the cryptocurrency market. The company's price target has been raised from $160 to $230 by Keefe, Bruyette & Woods, although its Market Perform rating remains unchanged.
The increase in Coinbase's price target by a reputable financial services firm, coupled with the broader recovery in cryptocurrency-related stocks, suggests a positive short-term outlook for COIN. The reaffirmation of the Market Perform rating indicates stability, while the raised price target reflects an improved valuation and growth prospects.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100