BofA Raises Coinbase Stock Target to $203 on Stablecoin Growth

Coinbase (NASDAQ: COIN) stock climbed on October 5 after Bank of America Securities raised its price target, citing stronger prospects for the crypto exchange’s stablecoin revenue.

COIN shares gained about 3% to $188 after reaching an intraday high of $191. The rally came alongside broader strength in U.S. crypto stocks, with Circle shares rising 2.1% and Strategy gaining 2.4%.

BofA increased its Coinbase stock price target to $203 from $174 while maintaining a Buy rating. The new target implies roughly 6% upside from COIN’s $191 intraday level, although the stock remains down approximately 19% year-to-date.

The bank pointed to Coinbase’s potential for higher stablecoin revenue following the Federal Reserve’s 25-basis-point interest rate hike at its September FOMC meeting. Higher rates could strengthen revenue generated from stablecoin-related balances and products.

The outlook follows comments from Bitwise CIO Matt Hougan, who argued that the failure of the CLARITY Act could give Coinbase an advantage in offering stablecoin rewards.

Despite raising its stock target, BofA lowered its Coinbase Q3 2026 earnings-per-share forecast to a loss of $0.24 from a loss of $0.22. Its full-year EPS estimate was also reduced to negative $0.73 from negative $0.71, reflecting weaker crypto trading volumes during much of 2026.

Coinbase previously reported adjusted Q2 EPS of negative $0.39, missing expectations of positive $0.14. The company is scheduled to release its Q3 2026 financial results on October 23 after the market closes.

Technical indicators are also showing improving momentum. Coinbase stock’s weekly Relative Strength Index has risen to around 51. Continued buying could push COIN toward the upper Bollinger Band near $201.

However, renewed selling pressure could send the stock back toward support around $174. A deeper decline could potentially expose the lower Bollinger Band near $136.