450 TP? So low?-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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2021-04-22

450 TP? So low?

Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says

Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pull

Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":376310155,"tweetId":"376310155","gmtCreate":1619088591777,"gmtModify":1704719438187,"author":{"id":3578478726247630,"authorId":3578478726247630,"authorIdStr":"3578478726247630","name":"xNemesys","avatar":"https://static.tigerbbs.com/09ab86d6c490aba7ca6d9acc22937ac4","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>450 TP? So low?&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p>450 TP? So low?&nbsp;</p></body></html>","text":"450 TP? So low?","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/376310155","repostId":2129872922,"repostType":2,"repost":{"id":"2129872922","pubTimestamp":1619076483,"share":"https://www.laohu8.com/m/news/2129872922?lang=&edition=full","pubTime":"2021-04-22 15:28","market":"us","language":"en","title":"Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says","url":"https://stock-news.laohu8.com/highlight/detail?id=2129872922","media":"MarketWatch","summary":"Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pull","content":"<p>Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/59ac349ba929df706908af2cc08474a4\" tg-width=\"1260\" tg-height=\"712\"><span>AFP VIA GETTY IMAGES</span></p>\n<p>Coinbase Global Inc. received yet another bullish endorsement from a Wall Street analyst on Wednesday, with Rosenblatt Securities analyst Sean Horgan expects the cryptocurrency exchange stands to be a \"long-term category leader.\"</p>\n<p>Horgan initiated coverage of Coinbase with a buy rating and a stock price target of $450, which is about 46% above current levels.</p>\n<p>That keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week.</p>\n<p>The stock dropped 3.7% in morning trading Wednesday, to trade 5.9% below where it closed on its first day of trading on April 14 .</p>\n<p>Horgan said he was bullish on the long-term upside of Coinbase, as it is set to benefit from the growing adoption and acceptance of cryptocurrencies. He said he was more cautious for the short-term, however, as \"the stock faces downside risk from the drawdown in the price of crypto.\"</p>\n<p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/ca969a8b8f33073bca39b20d25585859\" tg-width=\"1240\" tg-height=\"584\"><span>FACTSET</span></p>\n<p>Bitcoin was down 1.4% in morning trading Wednesday, and has shed 12.4% since closing at a record $63,434.45 on April 13, according to FactSet data. Despite the recent pullback, bitcoin has still climbed 91.6% year to date and soared 712.7% over the past 12 months. In comparison, the S&amp;P 500 index has gained 10.4% this year and rallied 51.5% over the past year.</p>\n<p>Last week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the \"primary beneficiary\" of the increased adoption of bitcoin and other digital assets, especially be institutional investors.</p>\n<p>\"We believe [Coinbase] should be regarded as the market leader in a category characterized by rapid and apparently sustainable growth driven by significant changes in consumers' behaviors and their adoption of new technology,\" Palmer wrote in a research note.</p>\n<p>Rosenblatt's Horgan said he believes it's \"reasonable\" to assume the potential for cryptocurrency market value to increase by about fivefold to the approximately $11 trillion market value of gold over the next years. He said Coinbase's current 11% share of the crypto market leaves it in \"pole position\" to capitalize on that growth.</p>\n<p>\"Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,\" Horgan wrote in a note to clients. \"Net/net, we are buyers of [Coinbase's stock] as a long-term category leader and pure-play cryptocurrency stock.\"</p>","source":"lsy1603348471595","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Buy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBuy Coinbase stock, as crypto has reached an ‘inflection point to legitimacy,’ analyst says\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-04-22 15:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.marketwatch.com/story/buy-coinbase-stock-as-crypto-has-reached-an-inflection-point-to-legitimacy-analyst-says-11619013827?mod=home-page><strong>MarketWatch</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices\nAFP VIA GETTY IMAGES\nCoinbase Global Inc. received yet another bullish...</p>\n\n<a href=\"https://www.marketwatch.com/story/buy-coinbase-stock-as-crypto-has-reached-an-inflection-point-to-legitimacy-analyst-says-11619013827?mod=home-page\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"COIN":"Coinbase Global, Inc."},"source_url":"https://www.marketwatch.com/story/buy-coinbase-stock-as-crypto-has-reached-an-inflection-point-to-legitimacy-analyst-says-11619013827?mod=home-page","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129872922","content_text":"Rosenblatt's Horgan is bullish on long-term upside, but is more cautious near-term give risk of pullback in cryptocurrency prices\nAFP VIA GETTY IMAGES\nCoinbase Global Inc. received yet another bullish endorsement from a Wall Street analyst on Wednesday, with Rosenblatt Securities analyst Sean Horgan expects the cryptocurrency exchange stands to be a \"long-term category leader.\"\nHorgan initiated coverage of Coinbase with a buy rating and a stock price target of $450, which is about 46% above current levels.\nThat keeps it unanimous, as all six analysts surveyed by FactSet have the equivalent of buy ratings on Coinbase. The average price target is $509.00, which is more than double the $250 reference price established when the stock went public last week.\nThe stock dropped 3.7% in morning trading Wednesday, to trade 5.9% below where it closed on its first day of trading on April 14 .\nHorgan said he was bullish on the long-term upside of Coinbase, as it is set to benefit from the growing adoption and acceptance of cryptocurrencies. He said he was more cautious for the short-term, however, as \"the stock faces downside risk from the drawdown in the price of crypto.\"\nFACTSET\nBitcoin was down 1.4% in morning trading Wednesday, and has shed 12.4% since closing at a record $63,434.45 on April 13, according to FactSet data. Despite the recent pullback, bitcoin has still climbed 91.6% year to date and soared 712.7% over the past 12 months. In comparison, the S&P 500 index has gained 10.4% this year and rallied 51.5% over the past year.\nLast week, BTIG analyst Mark Palmer initiated coverage of Coinbase with a buy rating and $500 stock price target, saying he believed the crypto exchange will be the \"primary beneficiary\" of the increased adoption of bitcoin and other digital assets, especially be institutional investors.\n\"We believe [Coinbase] should be regarded as the market leader in a category characterized by rapid and apparently sustainable growth driven by significant changes in consumers' behaviors and their adoption of new technology,\" Palmer wrote in a research note.\nRosenblatt's Horgan said he believes it's \"reasonable\" to assume the potential for cryptocurrency market value to increase by about fivefold to the approximately $11 trillion market value of gold over the next years. He said Coinbase's current 11% share of the crypto market leaves it in \"pole position\" to capitalize on that growth.\n\"Crypto has reached an inflection point on its road to legitimacy, and we see this as a long-term disruptive trend that is only in its early innings,\" Horgan wrote in a note to clients. \"Net/net, we are buyers of [Coinbase's stock] as a long-term category leader and pure-play cryptocurrency stock.\"","news_type":1},"isVote":1,"tweetType":1,"viewCount":144,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"upFlag":false,"length":12,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}