JPMorgan Chase upgraded Coinbase's rating to "overweight" and raised its target price to $404.

JPMorgan Chase raised its rating on Coinbase's stock from "neutral" to "overweight" and raised its target price from $342 to $404. The bank noted that although Coinbase's stock price has risen by about 30% this year, it remains attractive compared to its peers, and the revised model shows that there is still about 25% room for growth. JPMorgan analyst Kenneth Worthington said that Coinbase is evaluating the possibility of issuing Base tokens, which may become an important catalyst for promoting ecological expansion. He estimates that the token's market value may be between $12 billion and $34 billion, which is expected to balance shareholder value and community growth. At the same time, Coinbase's promotion of monthly subscription services is also seen as a potential growth driver. (CNBC)