Coinbase (COIN) is the Most Misunderstood Crypto Business, Bernstein Says
Crypto exchange Coinbase (COIN) remains one of the most misunderstood companies in the digital assets space, Wall Street broker Bernstein said in a research report Wednesday.
Bernstein raised its Coinbase price target to $510 from $310, and reiterated its outperform rating on the stock. The shares Wednesday morning were more than 4% higher at around $360 in early trading.
While broader sentiment leans bearish, Coinbase is cementing its role as crypto’s “universal bank,” and is bridging retail, institutional, and on-chain infrastructure at a scale unmatched by peers, the report said.
“Coinbase will be a beneficiary of the GENIUS Act and soon to follow CLARITY Act,” analysts led by Gautam Chhugani wrote.
Bernstein said the exchange is the…
