Coinbase price target raised to $110 at Wedbush after XRP ruling

Wedbush analyst Moshe Katri raised the firm’s price target on Coinbase to $110 from $75 and keeps an Outperform rating on the shares, citing a belief that today’s ruling on the Ripple versus SEC case is a likely positive for Coinbase’s own case versus the SEC. As it pertains to the SEC’s ongoing initiatives to curtail Coinbase’s operations, U.S. District Judge Analisa Torres ruled Ripple’s XRP sales on public cryptocurrency exchanges were not offers of securities under the law, the analyst tells investors.