Coinbase price target raised to $204 from $175 at Barclays

Barclays raised the firm’s price target on Coinbase (COIN) to $204 from $175 and keeps an Equal Weight rating on the shares. The company’s Q3 revenue and adjusted EBITDA missed estimates and volumes “were just a hair below” but an outsized contribution from low-/no-fee stablecoin pair trading resulted in a more meaningful retail transaction miss, the analyst tells investors in a research note. The firm says that while the shares could see pressure today, the focus turns back towards the election.