Morgan Stanley has raised its Coinbase stock price target from $250 to $258 ahead of earnings while retaining an Equal Weight rating, placing its forecast 50% above the shares’ previous $172 close.
Morgan Stanley kept its existing recommendation as part of an earnings preview covering brokers, exchanges and capital markets infrastructure companies, The Fly reported on Oct. 9. The revised target represents a 3.2% increase from its earlier forecast.
The bank had started covering Coinbase on Sep. 10 with a $250 target and an Equal Weight rating, according to MarketBeat. Its latest update raises the expected share value while leaving the investment recommendation unchanged.
