Barclays Upgrades Coinbase Glb to Equal-Weight, Lowers Price Target to $169
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Benjamin Budish has upgraded Coinbase Global (NASDAQ:COIN) from Underweight to Equal-Weight, while lowering the price target from $206 to $169.
September 06, 2024 | 12:27 pm
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Barclays has upgraded Coinbase from Underweight to Equal-Weight, indicating a more neutral stance on the stock. However, the price target has been reduced from $206 to $169, suggesting a more cautious outlook on its valuation.
The upgrade from Underweight to Equal-Weight suggests a more favorable view of Coinbase's stock, which could be positive. However, the reduction in the price target from $206 to $169 indicates a more cautious valuation, balancing the impact to neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100