Morgan Stanley downgrades Coinbase, slashes price target 53% on weak earnings outlook
AI summary
Morgan Stanley downgraded Coinbase and cut its price target by 53%, citing weak crypto trading activity and doubts about an earnings recovery. Analyst Michael Cyprys made the call. A major bank slashing its target on the largest US crypto exchange signals Wall Street expects trading revenue to stay depressed, a headwind for COIN shares and a read on retail and institutional activity.
Narrative history
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1H AGOYou’re reading thisMorgan Stanley downgrades Coinbase, slashes price target 53% on weak earnings outlookCoinDesk · Score 55
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4H AGOCrypto Briefing · Score 62 · via Stanley downgrade, downgrade Coinbase
