Key Takeaways
- Oppenheimer analysts lifted their worth goal for cryptocurrency alternate operator Coinbase inventory on Sunday.
- The alternate is positioned to learn from the widespread adoption of digital property, the brokerage agency stated.
- Congress is making ready to debate three crypto-friendly payments this week that might enhance the usage of digital property.
Shares of Coinbase International rose Monday as bitcoin hovered close to highs and Congress ready to take on numerous cryptocurrency issues within the coming days.
Coinbase (COIN) shares had been lately up about 2%. Oppenheimer analysts raised their worth goal for the crypto alternate operator as Congress was shifting to debate three crypto-friendly bills this week that might enhance the usage of digital assets. The bullish targets come as Bitcoin (BTCUSD) traded above $120,000 on Monday, persevering with its run to new heights.
The alternate firm is “nicely positioned to learn from mass adoption of digital property,” Oppenheimer analysts wrote Sunday. If Congress can move the GENIUS Act and the Digital Asset Market Readability Act, which set up frameworks for stablecoins and crypto market regulation, respectively, “it’ll legitimize this area and drive adoption,” Oppenheimer stated.
Oppenheimer lifted its worth goal for Coinbase stock to $417 from $395, marking a couple of 7% premium over Coinbase’s Friday shut close to $387 and nicely above the analyst consensus close to $330 from Seen Alpha. Shares of Coinbase are up 59% for 2025.
Analysts at Argus Analysis initiated protection of Coinbase with a $400 goal issued on Monday. The alternate’s “development runway is promising,” the dealer stated, justifying its worth.
