Bank of America Raises Coinbase Price Target to $203, Maintains Buy Rating
Bank of America has raised its price target for Coinbase stock to $203 from $174 while maintaining a Buy rating on the cryptocurrency exchange, according to information shared by BSCN.
Coinbase Price Target Raised
The revised target represents a $29 increase from Bank of America's previous $174 price target for Coinbase. The bank also raised its earnings-per-share targets for 2027 and 2028, reflecting its updated outlook for the company's future financial performance.
According to BSCN, Bank of America expects Coinbase to benefit from revenue growth tied to interest-bearing USDC reserves following the Federal Reserve's rate increase in September. The outlook places particular attention on the potential contribution of USDC-related interest income to Coinbase's revenue.
Bitcoin and Ethereum Capital Appreciation
The updated assessment comes after a third quarter in which there was significant appreciation in capital in BTC and ETH stocks. BSCN reported gains of 43% for BTC and 70% for ETH during the period, even as secondary trading volume declined.
The combination of the revised earnings expectations and the reported appreciation in BTC and ETH formed part of the backdrop to Bank of America's updated view of Coinbase. Despite the decline in secondary trading volume, the reported capital appreciation in the two major crypto assets was substantial during the third quarter.
Bank of America continues to rate Coinbase as Buy while setting the new $203 price target, up from its previous $174 target.
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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