Coinbase price target raised to $110 from $67 at Barclays

Barclays analyst Benjamin Budish raised the firm’s price target on Coinbase to $110 from $67 and keeps an Underweight rating on the shares. The analyst says exchange volumes and asset prices have improved materially over the past several months and declines in USDC market cap have largely stabilized. While this momentum could continue in the near term, a lot of excitement is already priced into Coinbase shares, the analyst tells investors in a research note. It continues to see shares as overvalued.