Morgan Stanley Downgrades Coinbase to Underweight Citing Earnings Risk
Morgan Stanley has downgraded Coinbase Global (COIN) from Equal-weight to Underweight, significantly slashing its price target from $258.00 to $120.00. The downgrade stems from the analyst's declining confidence in the company's ability to achieve an earnings recovery. Following the announcement, Coinbase shares experienced a pre-market decline of 1.77%, trading at approximately $141.00. This shift reflects growing concerns regarding the firm's near-term financial performance and potential downside risks to its bottom line.
Topics: analyst downgrade pre-market trading price target reduction stock rating
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Part of the story Morgan Stanley Downgrades Coinbase to Underweight Following Binance Hack and Slowing Retail Activity (4 articles)