Schwab Network on $COIN (Nov 2, 2026)
Morgan Stanley cut COIN to underweight from equal weight and lowered its price target to 120 from 258, and COIN fell about 1.5%. Less crypto trading on COIN means lower transaction fees, with fourth-quarter transaction revenue around $165 million; last week's theft was a blow to trust shaking confidence across crypto.
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Coinbase has been downgraded to an underweight rating. Of course, there was a major theft last week, so I think the crypto market has been unstable for a while. So this has caused some headwinds across the sector, and Coinbase's share price has fallen by about 1.5 percent after being downgraded this morning.
Morgan Stanley is taking a more cautious stance in the wake of the incident. They reduced Coinbase from equal weight to underweight. They have lowered their price target to 120.
This is less than 258. This represents a double-digit decline from Friday's closing level.
They are concerned about crypto trading on Coinbase. Less trading means lower transaction fees. Revenue from fourth-quarter transactions was approximately $165 million. This is based on analyst reviews.
And the Binance hack, it's a major blow to trust. We've seen this all across crypto. The headwinds that risk assets faced last week were not helpful in any way. So remember, this breach happened on Binance but the concern is about its after-effects. Which is shaking confidence in everything,
What this channel has said about $COIN
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