Bank of America raises Coinbase price target to $203, keeps Buy rating
Bank of America changed its Coinbase target to $203 from $174 and kept a Buy rating, while also revising its 2027 and 2028 earnings estimates. The bank tied the earnings changes to expected stablecoin revenue growth after the Federal Reserve’s September rate hike, including higher revenue from USDC reserves.
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Coinbase shareholders and people tracking COIN noticed a fresh sell-side update from Bank of America, which adjusted its target to $203 while keeping a Buy rating. The note also pointed to higher expected revenue from stablecoin activity and from USDC reserves, so the focus today is on how that revenue line is being discussed by a major bank.
Compared with before, the bank now has a higher target and higher earnings estimates for 2027 and 2028, while the rating itself stayed the same. What did not change is that the update still treats Coinbase through the lens of stablecoin revenue and USDC reserves, with the Federal Reserve’s September rate hike named in the same outlook.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 17 days ago | Jeeves raises $110M from a16z, Coinbase for crypto expansion event | 1 actors in common · 3 news media |
| 17 days ago | Coinbase Ventures and CMCC Global fund Raven at $90M valuation event | 1 actors in common · 3 news media |
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