Bank of America boosts Coinbase price target to $203
Bank of America has adjusted its outlook for Coinbase, raising its price target to $203 from $174 while maintaining a buy rating. The bank also lowered its near-term performance expectations due to weakening cryptocurrency trading volumes. Despite this, Bank of America anticipates growth in stablecoin revenue following the Federal Reserve’s September rate hike and has increased its earnings estimates for Coinbase in 2027 and 2028.
In the third quarter, Bitcoin (BTC) and Ether (ETH) saw significant gains, rising 43% and 70%, respectively. However, the softening of crypto trading volumes has tempered the bank’s short-term forecasts. The updated price target reflects a more optimistic long-term view, even as immediate trading conditions present challenges.