Summary
- Rosenblatt analyzed Coinbase's recent 30% stock price drop as a buying opportunity.
- The report stated that Coinbase could potentially benefit from crypto-friendly policies and has value as a blue chip.
- Thanks to increasing non-trading revenue, Coinbase is expected to show stronger resilience to future cryptocurrency market volatility.
According to cryptocurrency media Coindesk on the 7th (local time), US securities firm Rosenblatt reported that "Coinbase (COIN) stock price has fallen 30% over the past three weeks" and analyzed that "this should be taken as a buying opportunity."
The report stated that "Coinbase has the potential to be a beneficiary of a crypto-friendly US government and is a definite blue chip in the field," adding that "Coinbase has already proven its ability to navigate both bull and bear markets."
It further added, "As non-trading revenue increases, we expect it to show greater resilience in the next crypto winter."
Meanwhile, Rosenblatt upgraded its investment opinion on COIN to 'buy' and set a target price of $305.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Key Economic and Crypto Events for the Week Ahead] U.S. January CPI, etc.](https://media.bloomingbit.io/static/news/brief_en.webp?w=250)
