MSTR, COIN Stocks See Price Target Hikes Amid Bitcoin Rally To $80K – Goldman ‘Cautiously Optimistic’ On Coinbase

• Goldman Sachs raised its Coinbase target to $196 from $173 and maintained a 'Buy' rating while remaining "cautiously optimistic."

• Wolfe Research raised its Block target to $115 from $100 and maintained an 'Outperform' rating following its review of second-quarter results.

• Wolfe also raised its Circle target to $65 from $50 but maintained an 'Underperform' rating, making Circle the outlier among the four stocks.

Crypto-linked equities like Michael Saylor-backed Strategy (MSTR) and Coinbase (COIN) saw price target hikes from Wall Street on Tuesday, with analysts more bullish as Bitcoin (BTC) climbed toward $80,000 and sentiment across the sector improved.

Bitcoin's price gained about 1.7% over the past 24 hours and was trading around $79,200 after paring an intraday move above $81,000, according to CoinGecko data. On Stocktwits, retail sentiment around the apex cryptocurrency trended in 'extremely bullish' territory, accompanied by chatter at 'extremely high' levels. 

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Despite Bitcoin's recent rally of over 22% in the last week, it continues to trade over 37% below its record high of $126,000 seen in October last year, and 10% below its year-to-date high of over $91,000.