HC Wainwright raises Coinbase price target to $425 from $300

New York-based investment bank HC Wainwright has significantly raised its price target for Coinbase to $425 from $300, CoinDesk reported. The bank explained that there is a strong possibility of further stock price increases, citing Coinbase's solid third-quarter earnings and a bright outlook for future cryptocurrency prices. HC Wainwright also anticipates that the stock's rise will be supported by seasonal bullish factors for crypto, increasing institutional demand, and favorable regulatory momentum.