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Morgan Stanley cuts Coinbase to underweight and lowers target to $120

NewsFeeds update

Morgan Stanley analyst Michael Cyprys downgraded Coinbase to underweight from equal weight and cut his price target to $120 from $258, citing slower trading, weak revenue prospects and uncertainty after the Binance hack. He expects fourth-quarter transaction revenue about 11% below market expectations; Coinbase closed at $143.54 on 1 Nov.

BitcoinCoinNessAIBearish

Read the original on CoinNess

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Not investment advice.