Robert W. Baird initiated coverage on Coinbase Global Inc. (COIN) with a bullish outlook, setting a $240 price target, which suggests a 13.84% upside from the recent price of $210.83.
- The firm highlighted Coinbase's strategic growth, specifically mentioning subscription services and expansion into an ‘Everything Exchange.’
- The bullish rating comes despite the stock declining 10.2% over the prior five trading days amid broader crypto market weakness and regulatory uncertainty.
- Analysts noted that COIN is currently trading within a historically strong support zone.