The post JPMorgan Lowered Their Price Target for Crypto Exchange Coinbase’s Stock (COIN) appeared first on Coinpedia Fintech News
Quoting the increasing selling pressure on digital asset markets, JPMorgan analysts have resorted to lowering the price target for Coinbase’s stock (COIN). A report discloses that an analyst from JPMorgan, Kenneth Worthington, has a neutral rating on COIN, however, he has cut his price target by 23% from $78 to $60, which is close to its current price of $61.88.
In view of JPMorgan analysts, Coinbase’s staking business, which is offered for six different crypto assets, “has less upside given the selloff in crypto.” In addition to this, rating agency Moody’s has also changed its analysis on COIN, changing its rating from under review to negative.
Source: https://coinpedia.org/crypto-live-news/jpmorgan-lowered-their-price-target-for-crypto-exchange-coinbases-stock-coin/