Coinbase shares could rise 30% as benchmark bullish on improving regulatory environment

US investment bank Benchmark said on the 23rd that it believes cryptocurrency exchange Coinbase is well positioned to benefit as regulatory uncertainty in the cryptocurrency industry draws to a close. The Block and CoinDesk reported.

Benchmark has begun coverage of Coinbase (COIN) and set a price target of $252 based on 21 times projected 2026 earnings per share, which implies 30% upside potential from the current stock price.

Mark Palmer, senior research analyst for fintech and digital assets at Benchmark, said in a client note this week that Coinbase is the largest cryptocurrency exchange in the U.S....