COIN, BLSH Stocks Get Analyst Upgrades With Bitcoin Recovery, CLARITY Act Odds Lifting Crypto Outlook

Compass Point analyst Ed Engel said his base case accounted for Tuesday's CLARITY vote failing, and tokenized equities to launch anyway.

• Compass Point upgraded Bullish to ‘Buy’ on Monday, lifting its target by about 45% from Friday’s close.
• He moved Coinbase to ‘Neutral’ from ‘Sell’, but the new price target sat only 1% above Friday's close.
• Bitcoin neared $78,000 as spot ETFs logged a fourth straight day of outflows.

Shares of Coinbase (COIN) and Bullish (BLSH) edged higher in pre-market trading on Monday after Compass Point raised its ratings, citing a Bitcoin (BTC) rebound and the Senate’s upcoming floor vote on the Digital Asset Market Clarity Act (CLARITY ACT) as potential catalysts.

According to TheFly, Compass Point analyst Ed Engel upgraded Bullish to ‘Buy’ from ‘Neutral’ and lifted his price target to $51 from $30. The new target implied about 45% upside from Friday’s close of $35.12.

BLSH stock was up over 2% during pre-market trading hours. On Stocktwits, retail sentiment around BLSH remained in the ‘bullish’ zone, while chatter around it stayed at ‘low’ levels over the past day.

Why Is Compass Point Bullish on BLSH?

The analyst’s base case was that he expected Tuesday's Senate vote on the CLARITY ACT to fail. He said he liked the risk and reward regardless, after reports over the weekend that President Donald Trump made concessions on the bill's ethics provisions that improved the odds.

Engel said that the bill no longer determined the outcome. If the CLARITY Act failed, Engel expects the U.S. Securities and Exchange Commission (SEC) to release an innovation exemption soon after. Tokenized equities would launch next year either way, he said, and Bullish provided the best exposure to that catalyst.

This latest call reversed the premise of the analyst’s September 2025 initiation note, in which he had a hard time seeing Bullish enter U.S. markets before Congress passed market structure legislation.

Coinbase Upgraded On Cycle Call

On the other hand, Engel moved Coinbase to ‘Neutral’ from ‘Sell’ and raised his price target to $177 from $130, sitting just about 1% from Friday’s close of $175.26. 

He said Bitcoin historically traded in four-year cycles and that the current cycle was tracking closely with historic norms. Rising expectations that Bitcoin was recovering from a cyclical bottom drove the upgrade, the analyst said. 

COIN stock was also up over 2% during pre-market trading hours. On Stocktwits, retail sentiment around COIN remained in the ‘bearish’ zone, while chatter around it stayed at ‘low’ levels over the past day.

Bitcoin Rebounds As ETFs Bleed

The analyst upgrades came as Bitcoin edged toward $78,000 after spending a week in the red. Bitcoin’s price was up over 1% during the past 24 hours. On Stocktwits, the retail sentiment around BTC remained in the ‘extremely bullish’ zone, while chatter around it stayed at ‘low’ levels over the past day. 

Fund flows, however, did not follow the price. SoSoValue data showed that the U.S. spot Bitcoin ETFs recorded a fourth straight day of net outflows on Friday, at $13.29 million. 

For updates and corrections, email newsroom[at]stocktwits[dot]com.<