Benchmark Reiterates Coinbase Buy Rating with $270 Target, Implying 59.5% Upside

According to The Block, Benchmark Equity Research reiterated its buy rating on Coinbase with a $270 price target, implying 59.5% upside from current levels. Analyst Mark Palmer stated that Coinbase's recent system updates demonstrate its rapid transformation from a cyclical crypto broker into an infrastructure platform connecting on-chain economics with traditional finance. The firm highlighted Coinbase's progress in tokenized equities, options, prediction markets, AI investment tools, agentic payment infrastructure, and its CFTC approval as a futures commission merchant to offer U.S. clients global perpetual and options trading via Deribit.
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