Monness Crespi analyst Gus Gala initiated coverage of Coinbase (COIN) with a Buy rating and $245 price target The firm sees Coinbase as a long-term crypto exchange, custody and services winner given its “first-mover advantage, superior technology, and leading compliance.” As long as crypto can retain value based on its utility in decentralized finance, development in a multi-chain future remains likely and Coinbase should prosper off of these activities, the analyst tells investors in a research note.
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