Oppenheimer has assigned crypto exchange Coinbase an “outperform” rating with $434 price target, according to The Fly. Analyst Owen Lau sees the exchange as a crypto innovation enabler that addresses weaknesses in the current financial system.
Lau says Coinbase is well positioned to capture opportunities in the mass adoption of cryptocurrencies.
The analyst says Coinbase has a robust business model, with ample liquidity pool and customer reputationCoinbase stock is currently declining. COIN: NASDAQ is down 4.17% on premarket.
