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U.S. Bank Upgrades Coinbase Stock to 'Buy'
BlockBeats News, January 8th, Bank of America has upgraded Coinbase's rating to "Buy," citing reasons including accelerated product expansion, strategic realignment, and a more attractive current valuation. Bank of America pointed out that Coinbase's stock price has retraced by about 40% from its July peak, but the product momentum in the second half of the year is improving.
Bank of America emphasized that Coinbase is accelerating its layout in stocks, ETFs, and the prediction market; its Layer 2 network Base is seen as a key infrastructure-level growth engine; at the same time, Coinbase Tokenize is expected to become a significant catalyst for Real World Asset (RWA) tokenization. With the P/E ratio down about 40% from the mid-2024 level, Bank of America reiterated its $340 price target for Coinbase, implying about 38% upside, and believes that Coinbase is poised to maintain a long-term industry leadership position as it moves towards 2026.
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