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TechFlow news — JPMorgan has downgraded Coinbase's stock rating from Neutral to Underweight in its latest research report, while keeping the target price unchanged at $80.
The bank also stated that spot Bitcoin ETFs, seen as a key catalyst for driving the ecosystem out of last year's crypto winter, may disappoint investors. Coinbase shares fell 4.1% in pre-market trading to $122.90.
According to CoinDesk, JPMorgan downgraded Coinbase's stock from "neutral" to "underweight" in its latest research report, while keeping the target price unchanged at $80. The report stated that spot Bitcoin ETFs, seen as a key catalyst for driving the ecosystem out of last year's cryptocurrency winter, may disappoint investors. Coinbase shares fell 4.1% in premarket trading to $122.90.
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