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Coinbase Global Inc. (NASDAQ:COIN) is one of the best up and coming stocks to buy right now. On October 24, JPMorgan analyst Kenneth Worthington upgraded Coinbase to Overweight from Neutral with a price target of $404, up from $342. The firm believes that Coinbase stock trades at a compelling valuation versus rivals. The expected exploration of a Base token to boost growth on the Base blockchain and further expansion of its USD Coin payouts are catalysts for the company.
Furthermore, Coinbase’s launch of the Coinbase US Bitcoin Yield Fund is a notable recent development. The initiative is designed for accredited US investors and focuses on generating stable revenue streams that go beyond traditional spot trading. This addresses investor concerns about revenue diversification.
On the same day, Mizuho Securities analyst Dan Dolev also upgraded Coinbase Global to a Buy today and set a price target of $404.00.
Coinbase Global Inc. (NASDAQ:COIN) operates a platform for crypto assets in the US and internationally.
While we acknowledge the potential of COIN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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