Bernstein raises target price for Coinbase from $310 to $510

Bernstein, a Wall Street-based research and brokerage firm, raised its target price for Coinbase to $510, up 64% from the current price, CoinDesk reported. Bernstein said that Coinbase is positioning itself as crypto’s universal bank, connecting retail, institutional and on-chain infrastructure beyond a simple exchange. Bernstein also pointed out that Coinbase is also the only crypto-native company included in the S&P 500 index, continuing to lead the U.S. market despite fierce competition.