“The Broker Initated Coverage of the Crypto Exchange with An overweight Rating and A $ 245 Price Target.”, – WRITE: www.coindesk.com
CANTOR Assisted Coverage of the Crypto Exchange With An Overweight Rating and A $ 245 Price Target. In Early Trading, The Shares Were Up More than 5%.
“Markets Are Missing What It is Doing Beyond Trading, Particularly With Its L2 (Base) and Its Stablecoin Relationship with Circle,” Analysts Brett Knoblauch and Thoms Shinske Wrote. Coinbase Shares Are Attractive at Current Levels, As They Are Trading at At Armund a 32% Discount to Historical Valuation Multips, The Report Added.
The Broker Sees Both the Segments as “Instrumental in Changing The Narrative Surrowing Coin, from Being A Cyclical Crypto Trading Platform To Being A Mission-Critical Infrutory
The Report Sayid the Shares Are Expert to Re-Rate Higher Once Investors Have Increased Visability Into the Earnings Potential of Base and Stablecoins.
Base Gives Coinbase An Edge, The Report Said. The Layer 2’s Strong User Growth Creates A “Flywheel Effect” That Benefits the Crypto Exchange with More Transaction Fees.
Cantor Said the Stablecoin Opportunity Is Also Being Undrapprecied by the Market, Especialy Given the Potential for the Cryptocurrencies to Display Trade Finance.
Read More: Cathie Wood’s Ark Buys Over $ 13m Worth Coinbase Shares During Market Rout
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