Citigroup upgraded Coinbase's rating from Neutral to Buy due to improved regulatory risks

ChainCatcher news, according to CoinDesk, Citigroup's new research report indicates that Coinbase (COIN) may benefit from the improvement in regulatory conditions following the U.S. presidential election in November and the Supreme Court's overturning of the Chevron case, and has upgraded the stock's rating.

Citigroup has upgraded Coinbase's rating from neutral to buy and raised its target price from $260 to $345. The pre-market stock price showed little change, trading at around $266 as of the time of writing.