Coinbase Rises After JPMorgan Analyst Ditches Short-Lived Bear Call
- Analyst had downgraded stock less than four weeks ago
- Company’s due to report earnings after the market close
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Coinbase Global Inc. gained Thursday as a JPMorgan analyst ditched his bearish view just weeks after downgrading the stock.
Shares gained as much as 7.8% following the upgrade as Bitcoin traded higher. The biggest US cryptocurrency exchange is likely to see a boon from the recent rally in digital asset prices, analyst Kenneth Worthington said as he shifted his rating back to neutral.