Monness Crespi upgraded Coinbase (COIN) to Buy from Neutral with a $375 price target while keeping estimates unchanged for calendar year 2025 and “slightly pushing up” calendar 2026 estimates. The firm likes the setup in terms of news flow around stablecoin utility in the real world with a “hunch” there is more to come from the December 17 event and the tokenization of equities with an expectation of SEC comments in the near future. The firm adds that the recent lows in key crypto assets “pique our interest.”
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