Coinbase’s Surge: Analyst Predicts $160 Value

SEC’s legal proceedings initiated in June 2023 and mentions a Bloomberg analyst’s 70% prediction for Coinbase prevailing in the lawsuit.

Coinbase’s (COIN) stock is increasing following multiple reports that a prominent investment brokerage and bank have upgraded the stock rating to “outperform.”

Yahoo Finance has learned that financial services behemoth Oppenheimer anticipates the stock of the leading cryptocurrency exchange platform based in the United States to surpass expectations and attain a value of $160.

Owen Lau, the analyst who made the forecast, states in an accompanying research note that Coinbase’s litigation against the company will either be dismissed by the court or prevail in the U.S. Securities and Exchange Commission.

This is one of the reasons the stock is expected to perform well.

In addition, Lau asserts that interest rate increases, the forthcoming halving of Bitcoin (BTC) in April, and the increased adoption of digital assets will all contribute to the appreciation of COIN.

Factors Fueling Coinbase’s Projected 27.5% Stock Growth

As Lau expresses in the correspondence, MarketWatch reports that

“We are confident that Coinbase will prevail in the litigation, and the court will likely dismiss all or a portion of this complaint…

We anticipate an additional 50% rate reduction and increased adoption will increase COIN’s top and bottom lines within the next two years.

In June 2023, the SEC initiated legal proceedings against Coinbase, alleging that it was engaged in selling unregistered securities. The SEC asserted that digital assets traded on the platform were subject to its jurisdiction.

A Bloomberg analyst predicted earlier this year that Coinbase would prevail by a 70% margin on a motion to dismiss the lawsuit.

The current trading price of COIN is $126, representing a 3.83% increase over the previous twenty-four hours. A price increase to Lau’s level would represent a 27.5% escalation in the stock’s present value.