Morgan Stanley Downgrades Coinbase and Slashes Price Target by 53% on Weak Earnings Outlook
Key Highlights Morgan Stanley downgraded Coinbase (COIN) from Equalweight to Underweight, lowering its price target from $258 to $120. Analyst Michael Cyprys cited subdued cryptocurrency trading activity, a weaker long-term revenue outlook, and market uncertainty following the Binance hack. The investment bank significantly reduced its long-term financial forecasts, slashing Coinbase’s 2027 adjusted EBITDA estimate by ...