Coinbase downgraded at Morgan Stanely; price target slashed 53% on weak earnings outlook
Summary
Morgan Stanley has downgraded Coinbase and reduced its price target by more than half. The analyst pointed to subdued digital asset trading volumes and concerns about a delayed recovery in company profits as the main reasons for the negative outlook.
Analyst Michael Cyprys cited weak crypto trading activity and doubts about an earnings recovery.
Source: Read the full story at CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data
Disclaimer: This content is for informational and educational purposes only and is not financial, investment or trading advice. Tech & Money Press is not a registered investment adviser or broker-dealer. Trading stocks, options and crypto involves substantial risk, including the loss of your entire investment. Do your own research and consult a licensed professional before making any financial decision. The authors may hold positions in the securities mentioned. News summaries are written with AI assistance from the original publisher's report and may contain errors; always check the original source. Full disclaimer.