Redeye provides a preview of CoinShares and updates its estimates ahead of the Q4 2024 report expected on 18 February 2025. Redeye expects a strong Q4 report and improved outlook amid burgeoning crypto prices following the US election. Redeye raises EBITDA 2024e-2027e 7-26%, supported by a higher asset base. Redeye raise its fair value range bolstered by higher earnings. Despite the share rallying following the US election, the EV/EBITDA multiple for 2026e is at 3.1x.
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