Citi Upgrades Coinbase to Buy, Raises Price Target to $345

Coinbase (COIN) has seen significant positive activity recently. Citi has upgraded Coinbase from neutral to buy, raising its price target to $345 from $260.

This upgrade is attributed to an improving regulatory environment in the U.S., influenced by shifts in the U.S. election landscape and the Supreme Court’s overturning of the long-standing Chevron precedent.

Additionally, there has been notable trading activity with buyers purchasing 500 December $200 deep in-the-money calls for $88.25 to $89.05, totaling over $4.5 million.

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