Coinbase Global (COIN) upgraded to Neutral from Underperform by BofA Securities with price forecast raised to $217.

Coinbase Global (NASDAQ:COIN) was upgraded by BofA Securities analyst Mark McLaughlin to Neutral from Underperform, raising the price forecast to $217 from $110. The upgrade is driven by retail reengagement of crypto, operating leverage following expense cuts, and a larger audience of investors including institutions. New spot ETFs and maturation of brokerage services also contribute to the positive market dynamics.