Analysts from Citi Group said a potential “crypto-friendly” administration and growing revenues are bullish catalysts for Coinbase shares.
Investment bank Citi has increased its share price target for crypto exchange Coinbase, citing a “shifting” political landscape and a recent Supreme Court decision in the United States as bullish catalysts for the stock.
In a July 23 investor note viewed by Cointelegraph, Citi analysts Peter Christiansen, David Wieloszynski, and Nicolette Radomski upgraded their guidance on Coinbase (COIN) from “neutral” at $260 to a “buy” with a target of $345 in the coming months.
The investment bank cited the recent spate of developments in the United States election race as a reason for optimism, saying it was bringing about an “improving regulatory landscape” for crypto assets.
