Key Notes
- The upgrade reflects confidence in Coinbase’s multiple growth areas driven by increased crypto adoption and strategic acquisitions.
- Stablecoin revenue expansion is projected to offset potential headwinds from lower US policy rates affecting the platform.
- Coinbase continues benefiting from its first-mover advantage as cryptocurrency enters mainstream financial markets and regulatory frameworks.
Rothschild & Co Redburn, a Paris-based finance firm, posted an advisory note to investors on Oct. 3 upgrading Coinbase Global from “neutral” to “buy.”
Rothschild has also started its coverage of Circle Internet Group (CRCL), giving it an initial “neutral” rating and a price target of $136. As of the time of this article’s publication, CRCL is trading at $155.79, according to data from TradingView.
Meanwhile, investors were advised to adjust their target price for Coinbase stock from $372 to $417 with an assessed upside of +12.1%. As of the time of this article’s publication, COIN is trading at $378.
COIN trended towards its price target in the hours after Rothschild announced its upgrade to “buy.” | Source: Trading View
According to the investor advisory note, which was shared on X by Hardik Shah, the primary drivers for the Coinbase stock upgrade were multiple areas of growth due to rising adoption and the Deribit acquisition.
$COIN | 𝐂𝐨𝐢𝐧𝐛𝐚𝐬𝐞: Rothschild Redburn 𝐮𝐩𝐠𝐫𝐚𝐝𝐞𝐬 𝐭𝐨 𝐁𝐮𝐲, 𝐏𝐓 𝐬𝐞𝐭 𝐚𝐭 $𝟒𝟏𝟕
Analyst sees institutional adoption + Subs & Services growth offsetting take-rate compression. pic.twitter.com/T4L0fy5IGi
— Hardik Shah (@AIStockSavvy) October 3, 2025
Stablecoin Revenue Drives Growth Projections
Rothschild cited stablecoin revenue as a core component of COIN’s growth. The note indicated that lower US policy rates are expected by the market “to be a drag,” but also forecasted such resistance would be “more than offset by growth in USDC market cap.”
Beyond Rothschild, investment advisors are generally bullish on Coinbase with a handful of strong outliers. The most recent notices posted on Stock Analysis, for example, indicate about 1 in 8 analysts have COIN rated “don’t buy” whereas the rest are split between neutral and “buy.”
Coinbase Benefits From Crypto Mainstream Adoption
Coinbase finds itself in good form amid what’s largely been a rising tide for the cryptocurrency and digital assets community. Bills and legislation such as the GENIUS Act in the US along with expanding use cases appear to have mainstreamed crypto with Coinbase apparently receiving dividends from its relative first-mover status.
As Coinspeaker recently reported, Coinbase has also been the recipient of favorable commentary as of late from Vitalik Buterin, one of the community’s most renowned members. The Ethereum
ETH
$4 503
24h volatility:
1.1%
Market cap:
$545.12 B
Vol. 24h:
$45.34 B
co-founder and decentralization advocate expressed his strong support for Coinbase’s Layer-2 network, Base, saying that it was an example of “doing things the right way” in a post on X.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.
Tristan Greene on X