Coinbase Receives Outperform Rating with $310 Target from Bernstein

The U.S. crypto industry is anticipated to integrate into the financial mainstream due to improving regulations, benefiting Coinbase (COIN), according to a report by Bernstein.

• Bernstein initiated coverage of Coinbase with an outperform rating and a price target of $310.
• Coinbase shares fell 2% to $185.20 in early trading.
• Increased competition from fintech companies, brokers, and banks is expected as regulatory clarity advances.
• A strong bull market and rising U.S. onshore dominance may offset market share pressures.
• Regulatory improvements under the Trump administration are viewed positively for digital assets.
• The SEC has established a new crypto task force to draft industry regulations.
• Coinbase has diversified its offerings beyond trading, focusing on U.S. dollar stablecoins and crypto yield services.
• Bernstein projects a 31% compound annual growth rate for Coinbase's non-trading revenues from 2024-2026.
• Coinbase secured FIU registration, enabling a potential return to the Indian market.