Coinbase Stock Gets a Boost: Target Price Increased Canaccord Genuity, a prominent US investment bank, has significantly increased its target price for Coinbase (COIN) stock. Walter Bloomberg reported that the new target is $500, a substantial jump from the previous $292. Driving Factors Behind the Optimistic Outlook The investment bank's decision is based on anticipated revenue growth across several key areas for Coinbase. These include increased trading volumes, higher revenue from stablecoins, and growth in blockchain rewards. Canaccord Genuity also maintained an overweight rating on the stock, signaling strong confidence in Coinbase's future performance. This suggests a positive outlook for the cryptocurrency exchange's ability to capitalize on the evolving digital asset landscape. ```