Morgan Stanley Initiates Coverage on Coinbase with $250 Price Target

Morgan Stanley has initiated coverage on Coinbase Global Inc. (no ticker provided) with an Equalweight rating and a price target of $250.00, according to a report by the firm.

This represents significant upside from the current stock price of $174.72, which has declined 23% year-to-date amid broader crypto market volatility.

Analyst Michael Cyprys stated that Coinbase's scale, brand, liquidity, regulatory infrastructure, and product breadth position it to remain a central access and infrastructure provider as digital assets move further inside the regulated financial system.

The company's Everything Exchange expands its opportunity beyond crypto into equities, commodities, prediction markets, pre-IPO exposure, and tokenized assets. Its custody, financing, stablecoin partnerships, and Base position it across the infrastructure layer.