Coinbase price target raised to $375 from $290 at Needham

Needham analyst John Todaro raised the firm’s price target on Coinbase (COIN) to $375 from $290 and keeps a Buy rating on the shares. The firm is citing the impact of the “Trump Trade” impact, with SEC Chair transitioning to a pro-crypto regime and the Senate Banking change to pro-crypto, alongside Fed easing in the post BTC halving that world create an attractive set-up that could rival 2021’s crypto upcycle, the analyst tells investors in a research note. U.S. “bitcoin Reserve” and “no tax” on crypto is the “hope” for the space, Needham adds.