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Morgan Stanley Downgrades Coinbase on Weak Earnings Outlook

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Morgan Stanley has downgraded Coinbase Global to Underweight from Equalweight, slashing its price target to $120 from $258. The stock, currently trading at $143.54, has dropped 58% over the past year and is near its 52-week low of $136.89. The firm also reduced its revenue forecasts for 2027 and…

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