Coinbase Surges 8% After Goldman Sachs Turns Bullish

Analyst James Yaro of Goldman Sachs described the firm’s outlook as “selective optimism” toward US brokers and crypto-related infrastructure providers like Coinbase.

He said that Coinbase’s efforts to expand into areas such as blockchain infrastructure, tokenization, and prediction markets could support long-term growth.

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Following this assessment, Goldman lifted its target price for Coinbase shares from $294 to $303. By the end of the day, the stock had gained 8%, closing at $254.92.

In his report, Yaro noted that Coinbase’s business model is gradually becoming more diversified. The analyst suggested that the company’s development of new technologies and products positions it as the digital-asset market continues to mature.

Yaro also said Goldman expects crypto adoption by 2026, with greater participation from both individuals and institutions. He attributed this to potential improvements in US regulation that could create a more stable environment for digital-asset businesses.

Yaro said, "Our base case includes further crypto regulatory reform, catalyzing further broad-based crypto adoption, and use cases beyond crypto trading, most importantly among institutions, whose adoption thus far has been limited".

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