Analysts Raise Price Targets for Coinbase and Strategy as Bitcoin Reaches $80,000

Wall Street analysts have raised their price targets for Coinbase and Strategy following Bitcoin's recent rally towards $80,000.

Goldman Sachs analyst James Yaro increased Coinbase's 12-month target to $196 from $173, a 13.3% increase, while maintaining a Buy rating. This implies approximately 9% upside from Coinbase's Monday closing price of $179.48.

Canaccord Genuity analyst Joseph Vafi raised Strategy's target to $175 from $130, an increase of roughly 35%, also maintaining a Buy rating. The new target implied approximately 42% upside from Strategy's Monday close of $122.63.

The upgrades come after Bitcoin rallied more than 20% over the preceding week, briefly returning above $80,000 after trading around $64,000 earlier in August.