Coinbase stock gains after JPMorgan issues Buy rating, Mizuho trims price target

Coinbase Global (COIN) stock rises 1.5% in premarket trading JPMorgan analyst Kenneth Worthington initiates coverage of the company with an Overweight rating due to its key position in the growing space of transacting cryptocurrencies."We see the cryptomarkets as durable and growing, and expect Coinbase has the opportunity to influence and benefit from this market growth as it innovates," Worthington writes in a note to clients.Sets price target at $371; compares with average price target of $381.Meanwhile, Mizuho analyst Dan Dolev lowers his price target to $225 from $315 as he expects more muted volumes in H2 2021 due to recent bitcoin price declines and lower peer valuations.Keeps Neutral rating."Although all outcomes are still feasible for 2021, a crypto winter may mean 15%-20% potential downside to current consensus sales expectations," Dolev writes.Average Wall Street rating for COIN is Bullish (8 Very Bullish, 2 Bullish, 4 Neutral).Coinbase has only been trading for a