Markets
Morgan Stanley’s Coinbase downgrade cuts price target from $258 to $120
The Cryptonomist·November 2, 2026·1 min read
Morgan Stanley downgraded Coinbase Global (COIN) from Equal Weight to Underweight on November 2, 2026, cutting its price target from $258 to $120. Analyst Michael Cyprys paired the rating change with sharply lower earnings forecasts as the bank lost confidence in a near-term recovery.
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