Oppenheimer raised the firm’s price target on Coinbase (COIN) to $358 from $265 and keeps an Outperform rating on the shares. The firm notes that the sentiment and momentum for crypto has gone through the roof after Trump won the election and Republicans secured the majority of both House and Senate. Trump is known to be pro-crypto, and expectation is Scott Bessent, the new Treasury Secretary, and new SEC Chair will embrace crypto. It could represent a seismic regime shift from violation of securities laws to crypto capital in the world for U.S., Oppenheimer adds.
Coinbase price target raised to $358 from $265 at Oppenheimer
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