JPMorgan Raises Coinbase Price Target to $57
JPMorgan recently released a research report on Tuesday, in which the financial giant addressed Coinbase’s Q4 adjusted loss per share. COIN’s loss per share of $2.46 is less than the anticipated $2.85 loss per share by JPMorgan , as per the report. The report also highlighted that the EPS of $2.46 is higher than Bloomberg’s estimate of $2.17 per share. “Coinbase is well positioned to deliver notable year-on-year improvement in EBITDA at current expense levels with the marked improvement in overall crypto volumes in 2023 thus far combined with somewhat better than anticipated costs cutting going into 1Q23,” said analysts. Also read: Scam ChatGPT Tokens Hit the Crypto Market — What You Need To Know Source: Coinbase JPMorgan raises Coinbase price target to $57 The price target set by JPMorgan Chase analysts for Coinbase (COIN) shares for the fiscal year ending in December had dropped from $60 to $52. The American multinational financial institut...