Goldman Sachs initiates Coinbase with a ‘buy’ rating By Investing.com
By Samuel Indyk Investing.com – Goldman Sachs (NYSE:GS) has initiated cryptocurrency exchange Coinbase (NASDAQ:COIN) with a ‘buy’ rating and a 12-month price target of $306, implying upside of 36%. Analysts at the US investment bank believes Coinbase brings leverage to an ecosystem that is experiencing strong growth, driven by increasing adoption of digital currencies. Secondly, Goldman Sachs believes that Coinbase provides a leading consumer platform with strong customer trends as well as a robust and rapidly growing institutional business. A third reason for the ‘buy’ rating is that they believe Coinbase has an attractive business model...
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