Investment bank H.C. Wainwright has upgraded Coinbase (COIN) from 'Sell' to 'Buy', raising its price target from $300 to $425. The upgrade is attributed to a bullish crypto market, strong institutional demand, and potential regulatory progress. Coinbase's Q3 revenue reached $1.9 billion, surpassing the $1.8 billion forecast, driven by increased trading activity and subscription growth. H.C. Wainwright projects Coinbase's 2025 revenue at $7.4 billion with an adjusted EPS of $4.99, while acknowledging risks from market volatility and regulatory changes. Despite the positive outlook, Coinbase shares fell slightly to $318.50.