Bank of America Boosts Coinbase Price Target to $203

Bank of America has upgraded its price target for Coinbase (COIN) stock, raising it to $203 from $174 while keeping a Buy rating. The bank also increased its earnings estimates for 2027 and 2028, citing expectations of higher revenue from USDC reserves following the Federal Reserve’s September rate hike.

The near-term outlook for Coinbase remains challenging due to lower trading volumes. However, Bank of America believes that revenue from stablecoins will provide a foundation for future earnings growth.

The update reflects optimism about Coinbase’s long-term prospects, despite current market conditions.