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.

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Source Fool.com