Goldman Sachs upgraded Coinbase (COIN) from “neutral” to “buy,” leading to an 8% spike in shares. Analyst James Yaro cited optimism in US brokers and growing crypto infrastructure businesses. The 12-month price target was raised to $303 per share, representing an 18% gain from the current price of $254.92.

Coinbase is focusing on broader initiatives like infrastructure plays, tokenization, and prediction markets. CEO Brian Armstrong emphasized plans to prioritize stablecoins, expand exchange services, and develop the Ethereum layer-2 Base in 2026. The company recently integrated prediction markets into its platform in partnership with Kalshi.

Goldman Sachs predicts greater adoption of crypto in 2026, expecting regulatory developments to bolster the industry. Analyst James Yaro highlighted the importance of further crypto regulatory reform for broad-based adoption and use cases beyond trading. The report reflects positive sentiment towards Coinbase and the crypto market from the bank.

Read more at Cointelegraph: Coinbase Sock Rallies 8% After Goldman Sachs Upgrades Stock To Buy