Bank of America Upgrades Coinbase to Neutral, Raises Price Target to $217
Bank of America has upgraded Coinbase's shares to neutral from underperform and increased its price target to $217 from $110. The bank cited the positive macro backdrop for the cryptocurrency markets and trading volumes as reasons for the upgrade. However, risks remain, including the exchange's dependence on transaction revenue and ongoing lawsuit with the SEC. Coinbase's shares rose 2.5% in pre-market trading following the upgrade, but fell over 9% the previous day due to potential competition from the Chicago Mercantile Exchange.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump administration walks back tariff ‘exemption’ on electronics
Trump says he’s “flexible” on electronic tariffs, and that more developments are “coming up”
Charles Hoskinson Weighs in: Is Bitcoin Surging to $250K?
Unpacking Charles Hoskinson's Bold Bitcoin Prediction in Light of Current Market Trends
Market Insights: Short-Term Recovery Signals for BONK, ALCH, and Bitcoin
In Brief Analyst Pseudonym identifies recovery signals in BONK, ALCH, and Bitcoin. Short-term trading strategies recommended for cautious positions. Increasing interest in meme tokens amid market volatility.
Ethereum Price Fluctuations Ignite Technical Analysis and Strategic Forecasts
In Brief Ethereum's price fluctuations shift focus to technical indicators among market players. Analysts signal potential recovery and long-term growth opportunities for Ethereum. Competition from networks like Solana raises challenges for Ethereum's market position.
Trending news
MoreCrypto prices
More
