Bank of America upgraded Coinbase stock to "Buy".

PANews reported on January 8th that, according to *Walter Bloomberg, Bank of America upgraded Coinbase's rating to "buy," citing reasons including accelerated product expansion, strategic adjustments, and a more attractive current valuation. The bank noted that Coinbase's stock price has retreated approximately 40% from its July high, but product momentum is improving in the second half of the year.

The bank emphasized that Coinbase is accelerating its expansion into stocks, ETFs, and prediction markets; its Layer 2 network, Base, is seen as a key infrastructure-level growth engine; and Coinbase Tokenize is expected to be a significant catalyst for the tokenization of Real-World Assets (RWAs). With its price-to-earnings ratio down approximately 40% from mid-2024 levels, the bank reiterated its $340 price target for Coinbase, implying about 38% upside, and believes Coinbase holds a long-term industry leadership position heading towards 2026.