JPMorgan upgraded Coinbase's stock rating from underweight to neutral

ChainCatcher news, according to CoinDesk, JPMorgan stated in a research report on Thursday that it has upgraded the stock rating of cryptocurrency exchange Coinbase (COIN) from underweight to neutral, reflecting the recent rise in cryptocurrency prices following the approval of a spot Bitcoin ETF in the United States.

The report noted that the expected increase in cryptocurrency prices will enhance Coinbase's trading activity levels and profitability in the first quarter. JPMorgan upgraded the stock from underweight to neutral, but kept the target price unchanged at $80.