Coinbase Stock Could Surge 72% on Trump's Crypto Push

Analysts from Bernstein have expressed a bullish outlook on Coinbase (COIN) stock, predicting significant growth driven by potential regulatory changes under the Trump administration. Gautam Chhugani, the managing director of global digital assets at Bernstein, believes that the administration's ambition to establish the United States as the global leader in cryptocurrency could boost Coinbase's stock value by over 72% from its current level.

Bernstein has assigned an "outperform" rating to Coinbase and set a price target of $310 per share, a notable increase from its current value. Chhugani's optimism is grounded in the expectation that regulatory clarity, particularly around stablecoins, will create a more competitive environment. However, he anticipates that the overall expansion of the crypto industry in the U.S. will offset any competitive pressures, resulting in a net gain for Coinbase.

Chhugani also forecasts that Coinbase will see a substantial increase in non-trading revenues, with a compound annual growth rate of approximately 31%. This growth is expected to be fueled by the expansion of Coinbase's suite of crypto financial services, which includes market-leading shares in USD stablecoins and crypto yield services such as staking. Despite potential competition from fintechs, brokers, and banks, Chhugani remains confident that Coinbase's dominant position in the U.S. market will enable it to capitalize on the regulatory tailwinds and achieve substantial growth.