Bank of America raised the target price for Coinbase to $203

Bank of America raised its price target for Coinbase from $174 to $203 and reiterated a "Buy" rating. The bank expects that after the Federal Reserve's interest rate hike in September, stablecoin revenue will further increase, thus raising its earnings per share forecast for Coinbase for 2027 to 2028.

However, due to weakened cryptocurrency trading volumes, Bank of America has lowered its near-term performance expectations for Coinbase, despite Bitcoin and Ethereum rising 43% and 70% respectively in the third quarter.