Goldman and Canaccord raise price targets for Coinbase and Strategy

Goldman Sachs and Canaccord have raised their price targets for Coinbase and Strategy respectively. Goldman has increased its target for Coinbase shares from $173 to $196, pointing to growth opportunities in derivatives and prediction markets. Canaccord has lifted its price target for Strategy from $130 to $175. Both banks maintain their buy ratings. The news is part of a series of analyst statements on Wall Street.

In short:

• Goldman Sachs raises the price target for Coinbase to $196 and maintains its buy rating.
• Canaccord raises the price target for Strategy to $175, also with a buy rating.
• Several other major banks and analysts made statements on the same day about stocks such as AMD, Nvidia and SpaceX.

Goldman positive on Coinbase growth

Goldman Sachs maintains its buy rating for Coinbase and raises the price target from $173 to $196. According to the bank, the stock offers additional upside potential if the crypto market continues to improve. Goldman also points to sustained growth in newer parts of the company, such as derivatives and prediction markets.

Coinbase recently took a further step in its product expansion by launching tokenised shares on the Base network. That development fits the broader picture Goldman paints of a company actively developing new revenue streams.

Canaccord sees improved sentiment around Strategy

Canaccord raises the price target for Strategy, the company known for its large Bitcoin position, from $130 to $175. The bank likewise maintains its buy rating. According to Canaccord, sentiment around the stock has improved noticeably in recent weeks.

Strategy earlier raised $2 billion through a share sale, which further strengthened the company’s position. JPMorgan reiterated its positive advice for SpaceX on the same day and said it was becoming increasingly optimistic about the prospects for Grok, the company’s AI model. According to CNBC, Raymond James also made a notable move by upgrading AMD to Strong Buy, with a raised price target of $641.