Barclays Downgrades Coinbase Glb to Underweight, Raises Price Target to $70
Portfolio Pulse from richadhand@benzinga.com
Barclays analyst Benjamin Budish has downgraded Coinbase Global (NASDAQ:COIN) from Equal-Weight to Underweight, while raising the price target from $61 to $70.
July 13, 2023 | 9:51 am
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Coinbase Global has been downgraded to Underweight by Barclays, but the price target has been raised to $70.
The downgrade to Underweight suggests that Barclays believes the stock will underperform the market or its sector in the short term, which could lead to a decrease in its stock price. However, the increase in the price target indicates that Barclays sees some potential for the stock's price to rise in the longer term.
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