Citi raises Coinbase rating to buy from neutral, price target to $345

Citigroup said in a research note on Tuesday that crypto exchange Coinbase could benefit from the U.S. presidential election in November and improved regulation, and therefore upgraded its rating on the stock. It is reported that Citigroup raised its rating on Coinbase from neutral to buy and raised its target price from $260 to $345. The current pre-market share price has hardly changed, trading at around $266 as of press time. (Coindesk)