Coinbase Global (COIN) is a "strong rebound stock" if tariff tensions ease, Oppenheimer said Wednesday in a report.
"As a focused leader in crypto with optionality in tokenization and payments use cases," Coinbase is poised to "command a premium," Oppenheimer said.
Still, "the uncertain consequences of tariff policy have lowered the risk-taking appetite for retail," the report said.
Oppenheimer cut its earnings estimates for Coinbase in 2025 and 2026, citing "bear market concern, recession fear and pullback of retail trading" in March and April.
Oppenheimer slashed its price target on Coinbase stock to $279 from $388 and maintained its outperform rating.
Coinbase shares fell 1.1% in recent Wednesday trading.
Price: 173.72, Change: -1.85, Percent Change: -1.05
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