Coinbase price target raised to $179 from $146 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Coinbase to $179 from $146 and keeps an Underweight rating on the shares. The analyst says exchanged traded fund flows, helped by asset price appreciation, have driven meaningful spot trading volumes, which jumped in March. However, this seems to have reversed a touch in early April, the analyst tells investors in a research note. The firm says that while there are a few potential industry-wide catalysts in the near term, it is not yet clear if these can be as meaningful as the bitcoin ETFs.