Coinbase price target raised to $57 from $45 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Coinbase to $57 from $45 and keeps an Equal Weight rating on the shares. The analyst says that since the firm published its Q4 earnings previews earlier in January, crypto asset prices and spot trading volumes have increased materially. That said, Barclays is remains "somewhat cautious," as data indicates the pickup is not being driven by retail activity.