
BofA Global Research upgrades crypto exchange Coinbase COIN.O to "buy" from "neutral"
Brokerage cites the co is evolving from a pure crypto exchange into a diversified financial platform
Decentralized finance (DeFi) strategic pivot & native token catalyst with Base, its layer 2 blockchain built on Ethereum aims to be a decentralized, permissionless network, brokerage says
Base is key to COIN’s expansion into infrastructure and a native token launch would incentivize builders, creators and early adopters; a native token launch could also raise billions in cash, brokerage says
25 of 36 brokerages rate the stock "buy" or higher, 12 hold and 1 "strong sell"; median PT is $381 - data compiled by LSEG
Including session's moves, COIN down 4.5% in the last 12 months