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Wells Fargo raised its price target on Bank of America, now calling for more than 15% upside. Evercore ISI hiked its price target on the consumer products company to $150 per share from $133. Power has a $90 price target on the cloud software stock, implying shares can rally 44.5% in the next year. Forbes' $425 price target implies the stock can climb 43.1% from Wednesday's ending price. Analyst Mike Mayo raised his price target for the bank stock by $4 to $44, implying a 16.4% upside over Wednesday's close.

Persons: Wells Fargo, Clark, Javier Escalante, Escalante, KMB, — Jesse Pound, Jefferies, Portillo's, Andy Barish, Barish, — Brian Evans, Jason Gursky, Wednesday's, shakeup, Gursky, Alex Harring, Baird, William Power, — Alex Harring, Steven Forbes, Forbes, RH, BofA, Cintas, Heather Balsky, Balsky, Robinhood, Alex Markgraff, Markgraff, TD Cowen, John Blackledge, Grindr, Blackledge, It's, it's, Estee Lauder, Bryan Spillane, Spillane, Estee, Tom Ford, Joseph Greff, Greff, FanDuel, Vikram Gandhi, Gandhi, Wells, Bank of America Wells, Mike Mayo, Mayo, Goliath Organizations: CNBC, Bank of America, HSBC, Allstate, Kimberly, Staples, ISI, Citi, Boeing, Alaska Airlines, Dow Jones, UC, Guggenheim, RH's, FactSet, Estee Lauder Bank of America, JPMorgan, Allstate Allstate Locations: Portillo's, Five9, Estee, New Jersey, Wednesday's

☆ Coinbase just took a stake in stablecoin issuer Circle. Here’s what it could mean for the crypto exchange
▼ + stars: | 2023-08-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Late Thursday, the companies announced that Coinbase had taken a minor equity stake in Circle, which includes a 50/50 revenue share of interest income going forward. "Centre will no longer exist as a stand-alone entity and Circle will remain as the issuer of USDC, bringing any Centre governance and operations responsibilities in-house." The U.S. stablecoin market has been held back by regulatory uncertainty this year, and the market cap for USDC has dropped nearly 42% since the start of the year, according to CryptoQuant. "All else is in fact not equal as [the] USDC market cap has drifted lower through 2Q23 and interest rates are subject to change." "The Circle equity stake deepens COIN's exposure to a dwindling asset class … casting doubt about the standalone business model of stablecoins."

Persons: Coinbase, they're, Alex Markgraff, JPMorgan's Kenneth Worthington, USDC, Ramsey El, Assal, They're, Dan Dolev Organizations: Wall Street, Key, Barclays, U.S ., Mizuho, PayPal Locations: U.S, Key Banc, stablecoins

☆ Ether has been climbing ahead of its planned 'Shanghai' tech upgrade. Here's what the event could mean for crypto investors
▼ + stars: | 2023-04-09 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Ether rose last week as investors looked ahead to the Ethereum network's next big tech upgrade. "And greater participation in ETH staking strengthens the security of the Ethereum network as a whole." Data from CryptoQuant suggests any sell pressure would be low, however. Currently, however, the majority of the ETH staked (54%, or 9.7 million ETH) is currently at a loss, the firm said. "Given there's a limited amount of participants that can exit in a day, this sell pressure will not be as instant or violent as advertised by some commentators," he said.

☆ Ether's strong first-quarter performance was upstaged by bitcoin. Here's what comes next
▼ + stars: | 2023-04-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Bitcoin opened investors' eyes to the diversity of its narrative as its price fought a banking crisis, a regulatory crackdown and persistent inflation. Further, some see technological advances on the Ethereum network as laying the groundwork for the new cycle. That breakthrough accelerated its development pathway, allowing major Ethereum blockchain upgrades on the regular, Hougan added. "There are positives and negatives that could come from the Shanghai upgrade," he said. The Shanghai upgrade follows the Ethereum Merge , the September transition of the network from proof-of-work to proof-of-stake.

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