Analyst Mark Palmer reiterates a $270 price target for Coinbase after the exchange unveils tokenized equities and multi-asset options trading.
Benchmark-StoneX raised its Coinbase (COIN) price target to $270, a nearly 60% increase from Tuesday’s $169 close, citing the exchange’s expansion into tokenized U.S. equities and options trading. The firm’s analyst called the product roadmap a challenge to traditional brokerages and fintechs.
Coinbase announced plans to offer 1:1-backed tokenized stocks with automatic dividend payouts, differentiating itself from rival derivative-based products. The exchange also revealed options trading for crypto and equities, along with portfolio transfer capabilities, as part of its push to become an “everything exchange.”
The moves extend a strategy announced last December, broadening Coinbase’s reach beyond crypto into traditional asset classes. Benchmark described the ambition as sweeping enough to disrupt incumbents across finance.