Coinbase shares are trading lower after JP Morgan downgraded the stock from Neutral to Underweight and announced an $80 price target.
Portfolio Pulse from Benzinga Newsdesk
Coinbase shares dropped following a downgrade by JP Morgan from Neutral to Underweight, with a new price target set at $80.
January 23, 2024 | 2:02 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Coinbase's stock is likely to experience downward pressure in the short term due to JP Morgan's downgrade to Underweight and a lower price target of $80.
Analyst downgrades typically lead to a negative perception among investors, potentially causing a sell-off. The new price target of $80 by JP Morgan, which is a reputable financial institution, may set a bearish tone for the stock's short-term movement.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100