Wall Street's largest banks have once again turned their attention to the cryptocurrency sector, raising price targets for shares of key industry players. Goldman Sachs improved its forecast for shares of the exchange Coinbase (COIN), while Canaccord Genuity revised its assessment for Strategy (MSTR, formerly MicroStrategy). Notably, both financial institutions maintained a "buy" recommendation, signaling a renewed interest from institutional investors in digital assets after a period of caution.
Goldman sees potential in derivatives and prediction markets
Goldman analysts raised the price target for COIN from $173 to $196 — approximately 13% above the previous estimate. The bank considers not only the overall improvement in crypto market conditions but also the sustainable growth of Coinbase's new business lines as key growth drivers. Particular emphasis is placed on derivatives and prediction markets, which open up additional monetization opportunities.
At the close of the last trading session, COIN shares were trading at $187.16, up 4.28%. Goldman's new target implies a growth potential of about 5% from current levels. It is worth noting that in March, the bank set a price target of $235, but later revised it downward.
Canaccord sharply improves forecast for Strategy
Canaccord Genuity raised the price target for Strategy shares to $175, up from the previous $130. This 35% increase looks particularly significant against the backdrop of Tuesday's close at $126.83 — the new forecast implies an upside of nearly 38%. The bank characterizes the change in the situation as a "breath of fresh air" for MSTR, emphasizing the improvement in market conditions over the past couple of weeks.
The momentum confirms a shift in sentiment: since August 19, MSTR shares have risen 34.66%, while COIN has gained 27.14% over the same period. This is a stark contrast to the summer pessimism when, on July 31, analysts lowered forecasts for COIN following the company's third consecutive weak quarterly report.
My comment: The revision of targets by leading banks is not just a technical adjustment but a signal of a shift in the cycle's phase. Institutions are beginning to factor sustainable crypto market growth into their models, rather than short-term volatility. However, the key question is whether September's momentum will hold or whether we will see another round of profit-taking. For now, fundamental drivers look encouraging, but caution in position management remains essential.