XYZ, COIN, MSTR Stocks Get Wall Street Target Hikes — Baird Calls Jack Dorsey-Led Block A ‘Bullish Fresh Pick’

Citi more than doubled its price target on MSTR stock after revising its 12-month Bitcoin forecast to $113,000.

• Baird raised its Block’s price target to $106 from $105 and designated the stock a “Bullish Fresh Pick.”.
• Baird maintained an ‘Outperform’ rating on Block, keeping its bullish view heading into the quarterly results.
• Piper Sandler raised its price target on Coinbase to $170 from $146 while maintaining a ‘Neutral’ rating ahead of earnings.

Crypto-linked large-cap stocks gained in early morning trade on Friday, with Block (XYZ) getting a fresh bullish call from Baird ahead of its third-quarter earnings report. Coinbase (COIN) and Strategy (MSTR) also saw Wall Street raise their price targets.

In a note to investors cited by TheFly, Baird raised its price target on Block to $106 from $105 and maintained an ‘Outperform’ rating. The firm also designated Block as a “Bullish Fresh Pick” ahead of the company’s upcoming third-quarter (Q3) report.

Wall Street expects earnings per share (EPS) of around $1.02 on revenue of $6.6 billion, according to Koyfin data. The firm is scheduled to report its next earnings on November 3, after market.

XYZ stock rose around 1% in pre-market trade. On Stocktwits, retail sentiment around the Jack Dorsey-led firm trended in ‘bullish’ territory over the past day, accompanied by chatter at ‘normal’ levels. 

COIN Stock Price Target Raised Ahead Of Earnings

Piper Sandler also raised its price target on Coinbase to $170 from $146 ahead of the company’s quarterly results.The firm maintained a ‘Neutral’ rating on the shares but said it has raised its 2026 and 2027 earnings-per-share estimates.

The company has not yet announced when it plans to report its third quarter (Q3) earnings, but Wall Street is expecting a loss of $0.22 per share on revenue of $1.17 billion. 

COIN stock rose around 2.88% in pre-market trade alongside a rally in Bitcoin (BTC). On stocktwits, retail sentiment around the cryptocurrency exchange remained in ‘bearish’ territory over the past day. 

Citi Doubles Strategy Target On Higher Bitcoin Forecast

Citi made the largest target increase among the three stocks, more than doubling its price target on Michael Saylor-backed Strategy to $240 from $136 while maintaining a ‘Buy’ rating. The firm attributed the higher target to its revised Bitcoin forecasts. Citi raised its 12-month base-case Bitcoin price forecast by 39% to $113,000.

MSTR stock rose 2.8% in pre-market trade, with retail sentiment around the Bitcoin treasury remaining in ‘neutral’ territory over the past day. 

Last week, Strategy bought 1,665 Bitcoin at an average price of $85,681. The firm now holds 847,666 BTC, acquired for $63.95 billion at an average price of $75,437 per Bitcoin.

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