00:54JPMorgan, while maintaining its neutral rating, raised its price target for Coinbase to $150 from $95 to reflect the crypto market rally and the positive impact that ether has had on the exchange’s revenue.exchange-traded funds and the positive impact on the bitcoin price, the report noted, adding that it sees the “impact of ETH appreciation also as particularly meaningful.”
“Ethereum use cases transcend the crypto ecosystem, and we think create a robust earnings driver near term for Coinbase,” analysts led by Kenneth Worthington wrote in a research report on Friday.upgrade, which occurred this week on March 13, as driving crypto development, which is a longer-term positive,” the authors wrote.
The longer-term success of Coinbase would be driven by development, with a focus on tokenization and payments, the bank said.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.