Morgan Stanley Sets Price Target at $250 for Coinbase Amid Crypto Volatility

Morgan Stanley initiated coverage on Coinbase Global Inc. (COIN) with an Equalweight rating and a price target of $250.00, according to a report released by the firm.

The current stock price is $174.72, but shares have declined 23% year-to-date amid broader crypto market volatility.

Analyst Michael Cyprys stated that Morgan Stanley is more constructive on the franchise than the shares at current valuation.

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.