US EditionJPMorgan (JPM) Upgrades Coinbase (COIN), Sees Potential $34 Billion Opportunity in Base Token
JPMorgan raised Coinbase's price target to $404, citing a potential $12 billion to $34 billion Base token market and USDC yield strategy adding about $1 per share annually.
- JPMorgan upgraded Coinbase to overweight from neutral and raised its price target to $404 per share.
- The upgrade cites new monetization tactics as JPMorgan highlighted two key catalysts: a potential Base token and 4% returns for Coinbase One subscription service subscribers.
- JPMorgan's valuation used a 50x projected 2027 earnings multiple, factoring in $4 billion from a potential Base token on the Base blockchain launched August 2023.
- Shares jumped in early trading, rising about 4% as Coinbase shares have rallied 30% this year and JPMorgan analysts project 25% additional upside.
- Longer term, the bank cites ecosystem development and infrastructure buildout as a potential token could command a market capitalization between $12 billion and $34 billion, with up to $12 billion accruing to Coinbase.
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JPMorgan has improved Coinbase's rating to Overweight, citing a strong growth potential from its Base network, which could be worth up to $34 billion. The Coinbase Action article climbs after JPMorgan's upgrade, seduced by the potential of the Base network appeared first on Cointribute.
JPMorgan analysts predicted that Coinbase's potential token launch for the Base network could generate up to $34 billion in additional value for the company. The US investment bank's target price for Coinbase stock, published in a report on Friday,… Coinbase's Base Token Could Reach $34 Billion Value:...
Coinbase’s Base Network May Be Key to $34 Billion Growth, JPMorgan Predicts
In a research note published Friday, the bank upgraded its outlook for Coinbase, lifting its price target for the company’s stock to $404 by December 2026. The analysts said Coinbase is beginning to resemble a “multi-platform ecosystem” rather than a single exchange, citing its expansion into stablecoin yields, decentralized trading, and the continued rise of Base. Base: From Layer 2 Experiment to Billion-Dollar Network Coinbase’s Ethereum-based…
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