Bernstein Raises Coinbase Target Price to $510… "Growing Into a Universal Digital Asset Bank"
JH Kim
Summary
- Bernstein reported that it has raised Coinbase's target price from $310 to $510.
- The stated target price is about 64% higher than the current stock price.
- Coinbase is rapidly establishing itself as a 'universal digital asset bank' and leading the US market.
According to cryptocurrency specialist media CoinDesk on the 25th (local time), the U.S. Wall Street research and brokerage firm Bernstein has raised its target price for Coinbase (COIN) from the previous $310 to $510. This is about 64% higher than the current stock price.
In its report, Bernstein stated, "Coinbase is quickly establishing itself as a 'universal digital asset bank,' connecting retail, institutional, and on-chain infrastructure, far beyond a simple exchange." The firm also evaluated, "As the only crypto-native company included in the S&P 500 Index, Coinbase continues to lead the US market despite fierce competition."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
