Bank of America boosts Coinbase price target to $203 on stablecoin revenue expectations

Bank of America has raised its price target for Coinbase Global (COIN) to $203, up from $174, while maintaining its Buy rating. The adjustment, announced on October 5, 2026, reflects expectations of higher revenue from stablecoins following the Federal Reserve’s rate hike in September 2026. Analyst Craig Siegenthaler cited the potential earnings boost from stablecoins as the primary reason for the revised target.

The bank also increased its earnings per share estimates for Coinbase for 2027 and 2028, driven by anticipated stablecoin revenue. However, near-term forecasts were trimmed due to declining crypto trading volumes, despite Bitcoin’s 43% rise and Ether’s 70% climb in the third quarter.

This update aligns with an earlier note from September 24, 2026, which initially proposed the $203 target and Buy rating. While the latest move marks an improvement from the previous $174 target, it remains below January’s peak of $340.

Coinbase’s financials show a mixed picture: first-quarter revenue of $1.41 billion and a GAAP net loss of $394 million, compared to $2.03 billion in revenue and a profit of $65.61 million a year earlier. Analysts at Citizens JMP have a Buy rating on Coinbase, while Barclays rates it a Sell.

Bank of America’s outlook suggests that investors should look past near-term softness and focus on longer-term gains tied to stablecoin revenue and post-hike rate environments.