Coinbase price target raised to $395 from $293 at Oppenheimer

Oppenheimer raised the firm’s price target on Coinbase (COIN) to $395 from $293 and keeps an Outperform rating on the shares. The vibe from the Permissionless conference in Brooklyn was “quite good,” and many people are bullish and actively searching for the next opportunities, the analyst tells investors in a research note. The firm noted that there is a focus on consumer payments, treasury funds, and decentralized finance, and while sentiment has continued to improve, Oppenheimer expects more innovation, more partnership between traditional finance and crypto native ventures, and more capital going into this space. In its coverage, the firm believes Coinbase is well positioned to benefit from further blockchain adoption.