Overview
- Bank of America raised Coinbase to Buy from Neutral and kept a $340 price target, citing faster product velocity and positioning in real‑world asset tokenization through Coinbase Tokenize.
- Coinbase Tokenize packages issuance, custody, compliance, and distribution for asset managers, which BofA says could make the company a tokenization leader.
- Shares trade in the mid‑$200s after roughly a 40% slide from July highs, a pullback analysts say improves the stock’s risk‑reward setup.
- Product expansion includes planned 24/5 stock and ETF trading, prediction markets via Kalshi, and copper and platinum futures slated for January 26 to diversify revenue beyond crypto trading.
- Analysts also flag Base as a catalyst, noting a potential native token could raise billions though Coinbase has not announced one; Goldman Sachs upgraded to Buy earlier this week with about a $303 target, even as some technical views warn of near‑term downside and policy shifts could be a tailwind.