Coinbase shares hit highest since debut after Oppenheimer raises PT
Shares of U.S. crypto exchange Coinbase COIN.O rise 4.8% to $372, touching their highest since market debut in 2021
Brokerage Oppenheimer raises PT to $395 from $293; implying an 11% upside on the stock's last closing price
"We expect more innovation, more partnership between traditional finance and crypto native ventures, and more capital going into this space. We believe COIN is well positioned to benefit from further blockchain adoption" - Oppenheimer
"Regulatory clarity, increased adoption of stablecoin, and higher valuation of Circle improve COIN's outlook" - Oppenheimer
Stock as well as stablecoin issuer Circle CRCL.N had surged after the U.S. Senate passed a landmark stablecoin bill last week
17 brokerages rate the stock "buy" and higher, 17 "hold"; their median PT is $270 as per LSEG data
Stock up 49% YTD, including session's moves
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