Shares of Coinbase Global Inc. and other crypto-related stocks surged in premarket trading as Bitcoin gained over 3%. Coinbase Global rose by 4.7%, U.S.-listed shares of Bitfarms jumped 9.1%, and Microstrategy increased by 4.5%. Riot Platforms experienced a 6.2% rise, while shares of Hut 8 Mining and Marathon Digital advanced by 8.5% and 7.7% respectively. Oppenheimer upgraded Coinbase to 'outperform' from 'perform' and set a price target of $160, citing multiple catalysts and a potential 30% gain. The firm also raised Coinbase to 'buy', acknowledging the broker's strength. Despite this, JPMorgan analysts downgraded Coinbase from 'neutral' to 'underweight', hinting that investors might shift to Bitcoin ETFs for crypto exposure. Oppenheimer analyst Owen Lau highlighted that Bitcoin's price significantly influences Coinbase's stock, with possible downward momentum ahead.
Oppenheimer analyst Owen Lau points out that Bitcoin's price is a significant factor influencing Coinbase's stock, and there could be some "downward momentum" in the near term. https://t.co/N72eAUHt2A
JPMorgan analysts have downgraded Coinbase from neutral to underweight. In JPMorgan’s world, neutral means 'hold' & underweight means 'sell'. With Bitcoin ETFs approved, more folks might prefer getting crypto exposure through ETFs rather than bothering with Coinbase shares. https://t.co/CcmwkjKiWG
Coinbase Stock Gains on Upgrade. Don’t Underestimate the Broker’s Strength. https://t.co/L4RKFd6rDC
Shares of @Coinbase rose after investment bank @Oppenheimer raised the rating of the stock to “outperform” from “perform” with a price target of $160 per share, arguing that the company is strong and its management team is tough. @HeleneBraunn reports https://t.co/AQ393OdksT
Coinbase’s stock is controversial, but this new bull sees a 30% gain in store https://t.co/3PVCp416ng
$COIN 🔸 Coinbase Global jumps 4.8% premarket after Bitcoin hits 4-day high
$COIN (+4.3% pre) Coinbase (COIN) raised to buy as Oppenheimer sees multiple catalysts supporting the stock https://t.co/NGW1ndWYDH
$COIN Oppenheimer upgrades Coinbase to outperform from perform Oppenheimer said it sees multiple catalysts ahead for the crypto company. “We are upgrading COIN from Perform to Outperform, and initiating a PT of $160. Our upgrade is based on our thesis that 1) either COIN will…
$COIN $RIOT 🔸 Crypto Stocks Rise Premarket As Bitcoin Gains Over 3% 🔸 Coinbase Global Up 4.7%, U.s.-listed Shares Of Bitfarms Jumps 9.1%, Microstrategy Adds 4.5% 🔸 Riot Platforms Up 6.2%, U.s.-listed Shares Of Hut 8 Mining Rise 8.5%, Marathon Digital Gains 7.7%