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Jul 23, 2024 12:39 PM - Davit Kirakosyan
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Citi analysts upgraded Coinbase (NASDAQ:COIN) to a Buy/High Risk rating, citing recent shifts in the U.S. political and legal landscape that could mitigate the company's regulatory risks. The upgrade follows changes in the U.S. election landscape and the Supreme Court's decision to overturn the Chevron precedent, which is viewed as a positive development for the cryptocurrency industry.
Citi analysts highlighted that the Supreme Court's decision could lead to increased judicial scrutiny of the SEC's enforcement strategy, potentially benefiting Coinbase. They noted that crypto defendants' ability to invoke the Major Questions Doctrine might result in a closer examination of the SEC's regulatory approach.
Coinbase's stock has surged 52% year-to-date (YTD), outperforming the overall cryptocurrency market, which has grown by approximately 45% during the same period. Analysts believe that a more favorable regulatory environment could unlock institutional capital and foster greater investment, enhancing collaboration between crypto-native and traditional financial sectors.
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A stock's target price, also known as its fair value, is an indication of what a share can cost based on the company’s forecasted financial statements. It is important to know a stock's fair value to find undervalued stocks with great growth potential. Let's consider how investment analysts calculat...
May 16, 2024 8:06 PM - Gordon Thompson
On Thursday, May 16, 2024, Deutsche Bank upgraded its rating on NASDAQ:ASTS to Buy, maintaining a hold position. At the time of the announcement, ASTS was trading at $4.03. This decision was accompanied by an increase in the price target for AST SpaceMobile, raised to $22 from $19, as detailed in a ...
May 24, 2024 9:30 AM - Rajnish Katharotiya
Earnings call transcripts are invaluable resources for investors, analysts, and financial enthusiasts. They provide insights into a company's performance, strategy, and future outlook, making them essential for making informed investment decisions. With Financial Modeling Prep, Earnings Call Transcr...