Analysts Are Bullish on Coinbase, Despite Legal Troubles

Wall Street analysts aren’t expecting a quick resolution to Coinbase’s legal troubles, which threaten core aspects of the exchange’s business model. But they’re generally optimistic about the stock.

Eleven analysts surveyed by FactSet rate the stock “buy,” while 11 rate it “hold” and 8 say “sell.” The mean price target is $69.25, roughly 30% above Wednesday morning’s price. Coinbase stock was recently rising, up more than 3%.