H.C. Wainwright Turns Bullish on Coinbase (COIN), Double Upgrades to Buy With $425 Target

H.C. Wainwright has upgraded Coinbase from sell to buy and increased its price target from $300 to $425, citing a resurgence in cryptocurrency momentum and anticipated regulatory progress in the U.S. The bank expects the upcoming quarterly earnings report to reflect strong results, driven by a rise in crypto prices and institutional demand. They predict total revenue for Coinbase to reach $7.4 billion in 2025, along with adjusted earnings per share rising to $4.99. The revised outlook builds on the belief that favorable market conditions, including seasonal trends and increased regulatory clarity, will positively impact results. However, H.C. Wainwright also noted risks, including Coinbase's dependence on retail trading and market volatility. As of early trading, Coinbase shares were slightly down, reflecting broader market dynamics.

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