CFRA initiates Coinbase at Buy; will it be the Amazon of crypto?

CFRA analyst Chris Kuiper initiates coverage of Coinbase Global ([[COIN]] -2.2%) with a Buy rating on the assumption that "cryptoassets are here to stay" and poses the question of whether cryptocurrency exchange is set to "become the Amazon or E*Trade of the cryptoeconomy."Sees Coinbase starting to move along the path of offering additional services and subscriptions; furthermore, Kuiper points out that the company already has a strong brand name and established customer base that could provide an advantage as crypto expands into other industries."Just like how the internet and then the mobile phone ushered in a wave of new services and companies, we think the invention of native digital assets that allow for the storage and transfer of value without the need for an intermediary will spur a wave of new applications," Kuiper writes in a note to clients.Sets 12-month price target at $400. His bear case ($120 per share)