Barclays Upgrades Coinbase and Robinhood Ratings: Matures Business Models
Publication Time:2024-09-07 00:31:07
The British banking giant, Barclays, recently adjusted its ratings for Coinbase (COIN) and Robinhood (HOOD), upgrading them from underweight to hold. Analyst Benjamin Budish of Barclays stated that the business models of both companies have matured significantly, mainly due to product expansion and improved financial prospects. The analysis emphasizes that with the policy inclinations of the US presidential candidates being friendly towards the digital asset industry, and multiple physical cryptocurrency exchange-traded funds (ETFs) receiving approval, Coinbase is expected to benefit from a more favorable regulatory environment. Barclays noted that the factors leading to their initial underweight rating are gradually disappearing, and now considers the risk and return for these two stocks to be more balanced.
Coinbase
Robinhood
Barclays Bank
Rating Adjustment
Business Model