Morgan Stanley’s Coinbase downgrade cuts price target from $258 to $120
Morgan Stanley downgraded Coinbase from Equal Weight to Underweight and cut its price target from $258 to $120, below the $143.54 close on October 30. The bank also lowered its 2027 adjusted EBITDA estimate by 47% and moved to a 12x multiple from 20x, citing weak trading trends after third-quarter results.
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