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Oppenheimer upgrades Coinbase stock, targets price of $160 per share

Investment bank Oppenheimer has upgraded its rating on Coinbase (COIN) stock to "outperform" with a target price of $160 per share, citing the company's strong performance. Analyst Own Lau pointed out that increased trading volume, recent approval of a Bitcoin ETF, and the potential for Coinbase to win its SEC lawsuit were the main drivers behind the rating upgrade.

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