Odaily Planet News: Bank of America has upgraded its rating for Coinbase to "Buy," citing reasons such as accelerated product expansion, strategic adjustments, and a more attractive current valuation. Bank of America noted that Coinbase's stock price has pulled back about 40% from its July high, but product momentum is improving in the second half of the year.
Morgan Stanley 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. Meanwhile, Coinbase Tokenize is expected to become an important catalyst for the tokenization of real-world assets (RWA). With its price-to-earnings ratio down about 40% from mid-2024 levels, Morgan Stanley reaffirmed a $340 price target for Coinbase, implying approximately 38% upside potential, and believes that Coinbase holds a long-term industry leadership position as it moves toward 2026.