Bernstein Analysts Bullish on Coinbase
Investment firm Bernstein believes Coinbase (COIN) stock is poised for a major jump. They predict a potential 72%+ increase in value, setting a price target of $310 per share (up from $180). This optimistic outlook is largely driven by anticipated pro-crypto regulations under a potential Trump administration.
Trump’s Regulatory Push: A Tailwind for Coinbase?
Gautam Chhugani, Bernstein’s managing director of global digital assets, highlights the Trump administration’s ambition to make the US the “crypto capital of the world.” He points out Coinbase’s dominant position in the US market (66% share) as a key factor in its potential for growth.
Increased Competition, But Overall Positive Outlook
While Chhugani acknowledges that clearer regulations could attract more competition from fintech companies, banks, and brokers, he expects the overall growth of the US crypto market to outweigh any negative impacts on Coinbase’s market share and pricing.
Beyond Trading: Diversification Fuels Growth
Bernstein also forecasts strong growth in Coinbase’s non-trading revenue, projecting a 31% compound annual growth rate. This is attributed to Coinbase’s successful expansion into areas like stablecoin market leadership and crypto yield services such as staking.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before making any investment decisions.
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