Coinbase shares receive a boost as Oppenheimer upgrades the stock to outperform from perform, setting a price target at $160 per share.
The $160 target influences the broader crypto market, impacting names like Marathon.
Despite concerns about the $40,000 level, Bitcoin not only regained it but surpassed, currently up by about 3%.
The markets reflect optimism as Bitcoin’s pressure eases, influenced by the recent SEC decision.
Now above $41,000, the question is its potential climb towards the $46,000-$47,000 range seen recently.
Coinbase benefits from Oppenheimer’s upgrade, attributed to catalysts like the prospect of stronger earnings and improving fundamentals.
The new $160 price target represents a $40 increase from the current trading level.