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Morgan Stanley cuts Coinbase to underweight with $120 price target

Morgan Stanley cuts Coinbase to underweight with $120 price target
AI summary

Morgan Stanley downgraded Coinbase to underweight and cut its price target to $120, signaling a more cautious view on the exchange's outlook. The move reflects growing concern about crypto sector volatility and its effect on investor confidence. Traders will watch COIN for pressure, since a major bank's downgrade can weigh on sentiment toward crypto-linked equities.

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