Bank of America raises Coinbase price target to $203, keeps Buy rating

Bank of America has raised its price target on Coinbase Global (COIN) to $203, up from $174, and kept its Buy rating on the stock. The reason is not a trading boom. BofA analyst Craig Siegenthaler pointed to stablecoins, specifically the higher revenue he expects Coinbase to earn from them after the Federal Reserve’s rate hike in September 2026. What BofA changed, and why The revision, dated October 5, 2026, adds $29 to BofA’s previous $174 target. The bank also raised its earnings per share estimates for Coinbase for 2027 and 2028, citing the stablecoin revenue it expects to come through in those years. BofA trimmed its near-term forecasts for Coinbase because crypto trading volumes have declined. That cut came even though Bitcoin rose 43% and Ether climbed 70% in the third quarter. The update is consistent with an earlier BofA note from September 24, which had already laid out the same $203 target and Buy rating. The October note reaffirms that view rather than reversing course. A target with a long memory The bank’s targets for Coinbase have moved around considerably in 2026. In January, BofA had the stock pegged at $340. By May, that figure had come down to $218. The latest mov...