Benchmark reiterates 'Buy' rating, $270 target for Coinbase

U.S. investment bank Benchmark has maintained its 'Buy' rating and $270 price target for Coinbase (COIN) following the company's announcement of its goal to become a comprehensive exchange, The Block reported. Coinbase previously stated it would transform into a comprehensive infrastructure platform by unveiling a product suite that includes stocks, derivatives, AI, and consumer finance. Benchmark explained that Coinbase's announcement shows it is evolving from a strategy as a cyclically affected exchange to an infrastructure platform connecting the nascent on-chain economy with traditional finance. The bank added that Coinbase's recent expansion into prediction markets, AI agents, and its Layer 2 Base infrastructure are further evidence of its business expansion beyond spot trading.