{"id":556506,"date":"2024-07-24T07:00:39","date_gmt":"2024-07-24T07:00:39","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=556506"},"modified":"2024-07-24T13:39:27","modified_gmt":"2024-07-24T13:39:27","slug":"citi-sees-33-upside-for-coinbase-stock-on-improving-us-regulatory-environment","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/citi-sees-33-upside-for-coinbase-stock-on-improving-us-regulatory-environment","title":{"rendered":"Citi Sees 33% Upside For Coinbase Stock On Improving US Regulatory Environment"},"content":{"rendered":"
Citi has upgraded its Coinbase stock rating from “neutral” to “buy” on an improving regulatory outlook in the US and raised its price target by almost 33% to $345.<\/p>\n
Citi attributed the higher stock rating to a shift in the US election landscape as presidential candidates compete to win the crypto vote, and after the US Supreme Court overturned the so-called Chevron precedent.<\/p>\n
The stock rose 1.6% in pre-market trading to change hands for $259.29 as of 9:20 a.m. EST. Citi’s previous price target for COIN was $260.<\/p>\n
\n$COIN<\/a> upgraded to BUY at CITI <\/p>\n
\"Shifts in the U.S. Election landscape and the Supreme Court’s overturning of the long-standing Chevron precedent has changed our view on Coinbase’s regulatory risks.\"<\/p>\n
Raises target price 33% to $345 pic.twitter.com\/CoMbCTFbK8<\/a><\/p>\n
— matthew sigel, recovering CFA (@matthew_sigel) July 23, 2024<\/a><\/p><\/blockquote>\n