Coinbase Gets a Huge Price Target Boost - but This Analyst Says the Stock Is Still a Sell
Coinbase Global got a huge price target boost on Friday, but the analyst -- a longtime bear on the cryptocurrency broker -- says the stock remains a Sell. It's still a good sign ahead of the company's next earnings release."HODLers win the quarter," Mizuho analyst Dan Dolev wrote in a Friday note on Coinbase, referring to the crypto slang for holding on for dear life. Dolev raised his price target on Coinbase stock to $145 from $84 but maintained his Sell rating on the shares. Coinbase stock closed at $263.01 on Thursday, up more than 50% so far this year."Strong spot volumes post-Bitcoin ETF launch -- especially in alt-coins -- could drive nearly 40% upside to [first quarter] consensus revenue, as high-margin retail investors are drawn into a rising crypto price environment," Dolev wrote.