BofA raised the firm’s price target on Coinbase to $79 from $66 and keeps an Underperform rating on the shares. After reaching “multi-year lows” in Q3, data points to a Coinbase transaction volume beat in Q4, the analyst tells investors. However, BofA continues to see risk in shares given crypto market unpredictability, a lack of revenue diversification, and lingering regulatory and legal issues and maintain its Underperform rating.
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