Citi upgrades Coinbase rating to buy from neutral due to improved regulatory risks
2024-07-23 11:38:30
Crypto exchange Coinbase (COIN) could benefit from improved regulatory regimes following the U.S. presidential election in November and the Supreme Court overturning Chevron's legal precedent, Citi said in a research note on Tuesday, and upgraded the stock. Citi upgraded Coinbase's rating to buy from neutral and raised its price target to $345 from $260. Shares were little changed before the market, trading around $266 at press time.
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