“We believe the visibility of COIN generating positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in 2023 has increased, and its ability to diversify and generate non-trading revenue is still underappreciated,” Lau wrote in a research note to clients. Lau continued with an outperform rating on Coinbase’s shares and a $107 price target, or nearly double the current price of $57.
Source: https://www.coindesk.com/business/2022/11/04/coinbases-weak-third-quarter-may-not-be-the-bottom-wall-street/?utm_medium=referral&utm_source=rss&utm_campaign=headlines