Coinbase price target raised to $205 from $183 at Keefe Bruyette

Keefe Bruyette raised the firm’s price target on Coinbase (COIN) to $205 from $183 and keeps a Market Perform rating on the shares. The revenue miss was slightly offset by lower operating expenses, though adjusted EBITDA of $930M still fell short of the firm’s estimates, the analyst tells investors in a research note. Coinbase noted that Deribit has historically generated positive EBITDA and should immediately enhance profitability.