Coinbase shares are trading lower after Atlantic Equities downgraded the stock from Overweight to Neutral but raised its price target from $70 to $80.
Portfolio Pulse from Benzinga Newsdesk
Atlantic Equities has downgraded Coinbase's stock from Overweight to Neutral, but increased its price target from $70 to $80. This has led to a decrease in Coinbase's share trading.
July 12, 2023 | 3:40 pm
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Coinbase's stock has been downgraded by Atlantic Equities, but the price target has been raised. This has resulted in lower trading of Coinbase shares.
The downgrade of Coinbase's stock by Atlantic Equities from Overweight to Neutral indicates a less optimistic outlook for the company, which can lead to a decrease in stock price. However, the increase in price target from $70 to $80 shows a potential for higher long-term value. The immediate reaction in the market has been a decrease in share trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100