Morgan Stanley has lifted its price target on Coinbase to $258 from $250 ahead of the company’s next earnings report, according to a Techub News item citing CoinGape. The bank kept its Equal Weight rating unchanged. The update indicates that Morgan Stanley sees roughly 50% upside from the previous closing price to the new target, while still taking a cautious stance on the stock. The move came before Coinbase releases its next set of financial results, making the revision notable for investors tracking Wall Street expectations around the exchange operator. Even with the higher target, the unchanged rating suggests the bank did not shift to a more aggressive recommendation.
Morgan Stanley raised its price target on Coinbase to $258 from $250 ahead of the company’s next earnings report, according to Techub News, which cited CoinGape.
The bank maintained its Equal Weight rating. The report said the new target still implies about 50% upside from the previous close, though Morgan Stanley remains cautious on the stock.
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