Bank of America Upgrades Coinbase Stock to Buy

Bank of America upgraded Coinbase stock to “Buy” based on its evolution into an “everything exchange” and an attractive valuation after a ~40% price pullback. Analyst Craig Siegenthaler cites product expansion and potential market growth as key factors.

The upgrade is due to Coinbase’s strategy to become an “everything exchange,” expanding beyond cryptocurrency trading.

Bank of America Upgrade

Bank of America upgraded Coinbase stock from Neutral to Buy, indicating confidence in Coinbase’s growth potential. The bank sees Coinbase evolving beyond cryptocurrency to include assets like stocks, ETFs, and prediction markets.

Research Analyst Craig Siegenthaler leads the coverage at Bank of America. He cites product velocity and valuation as factors and highlights the appeal of Coinbase’s strategic direction in 2026. “Product expansion, strategic pivots, and a more compelling valuation set the crypto exchange up for strong performance into 2026,” remarked Craig Siegenthaler. (source)

Stock Price and Market Implications

Coinbase’s stock price was trading around $245.77 at the time, suggesting a 38% upside potential. This analyst upgrade could influence institutional investors to reassess their positions.

The financial implications highlight Coinbase’s ambition to expand markets. Coinbase’s push into tokenization aligns with its long-term strategy to increase trading volumes and market participation.

Strategic Direction and Historical Trends

Coinbase’s strategic direction, including adding stocks and ETFs, reflects a broader vision of integrating traditional financial markets.

Historical trends show major bank upgrades impact crypto-related stocks, especially during critical market cycles. If Coinbase issues a native token for Base, it can be a major funding catalyst.