BUZZ-Coinbase rises after Goldman Sachs upgrades rating to 'buy'

Reuters01-06
BUZZ-<a href="https://laohu8.com/S/COIN">Coinbase</a> rises after Goldman Sachs upgrades rating to 'buy'

** Shares of crypto exchange Coinbase COIN.O rise 7.65% to $254.63

** Goldman Sachs upgrades COIN to "buy" from "neutral"

** Brokerage cities stronger long-term structural growth and says the Street is underestimating revenue and market share gains

** COIN's scale continues to fuel above-average revenue growth, forecasting 12% compound annual revenue increase for 2025 to 2027 versus 8% for peers, supported by its 9.5 million monthly transacting users, brokerage says

** COIN's product launches across brokerage, banking, wealth and tokenization make it more competitive, Goldman Sachs says, adding that its large user base should help it scale newer offerings such as prediction markets where distribution is key

** GS raises PT to $303 from $294, implying a 28.1% upside to stock's last close

** 23 of 36 brokerages rate the stock "buy" or "higher", 12 hold and 1 "strong sell"; median PT is $381 - data compiled by LSEG

** Including session's moves, COIN down 17.1% in last 12 months

(Reporting by Pragyan Kalita in Bengaluru)

((Pragyan.Kalita@thomsonreuters.com))

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