Morgan Stanley cuts Coinbase price target by 53% amid weak trading
CIE News ·
Based on reporting by CoinDesk; not yet independently confirmed.
Morgan Stanley has downgraded Coinbase and reduced its price target by 53%, according to CoinDesk, citing subdued crypto trading activity and doubts over an earnings recovery.
Morgan Stanley has downgraded Coinbase and lowered its price target for the company by 53%, according to CoinDesk. Analyst Michael Cyprys pointed to concerns over subdued crypto trading activity as the driver behind the revision. Cyprys also expressed skepticism regarding the likelihood of a rebound in Coinbase's earnings.
Key facts
- 53% price target cut
- Morgan Stanley downgrade
- Coinbase
- Weak trading activity cited