Why Coinbase Global Stock Popped Friday Morning
Shares of Coinbase Global (NASDAQ: COIN) surged Friday morning, adding as much as 8.1%. As of 12:03 p.m. ET, the stock was still up 5.9%.
A couple of catalysts drove the crypto trading specialist higher, including an upgrade by a Wall Street analyst and news it plans to fund a court battle challenging a U.S. Treasury Department decision.
Daiwa analyst Carlton Lai upgraded Coinbase to buy from outperform (weak buy), while maintaining his price target of $100. This would represent potential upside of 37% compared to the stock's closing price on Thursday.
Source Fool.com
