Morgan Stanley downgrades Coinbase Global to Underweight from Equal-Weight, lowers price target to $120

What happened

Morgan Stanley downgraded Coinbase Global from Equal-Weight to Underweight and cut its price target from $258 to $120, a 53.5% reduction. The new target implies 16.4% downside from Coinbase’s Oct. 30 closing price of $143.54.

Confirmed

Global impact / market context

A lower rating and target can make investors less willing to hold or buy Coinbase shares, potentially adding pressure to its share price. The article gives no reason for the downgrade, so it does not establish a change in Coinbase’s business, revenue, or costs.

Analyst inference

The five other analyst notes cited, published over the past 30 days, have price targets from $174 to $275, all above Morgan Stanley’s new $120 target. This shows a marked difference in views, but does not establish how investors will respond.

Confirmed

What to watch

1. Watch for any further analyst rating or target changes, which could add to or counter Morgan Stanley’s more cautious view of Coinbase shares. Analyst inference
2. Check whether Coinbase or Morgan Stanley provides reasons for the downgrade; the supplied article does not explain what prompted the lower rating or target. Analyst inference
3. Compare future analyst targets with Morgan Stanley’s $120 target and the cited $174–$275 range to see whether views converge or remain divided. Analyst inference

Evidence

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