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Morgan Stanley Downgrades Coinbase and Cuts Price Target 53% on Earnings Outlook

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Morgan Stanley has downgraded Coinbase and slashed its price target by 53%. Analyst Michael Cyprys pointed to subdued cryptocurrency trading activity as a key concern. He also expressed doubts that the company's earnings will recover soon. The revised outlook reflects a more cautious view of the crypto exchange's near-term financial performance. Investors are likely to watch closely for signs of a rebound in trading volumes.

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