Morgan Stanley Assigns Neutral Rating and $250 Price Target to Coinbase for the First Time

On September 10, Morgan Stanley initiated coverage on Coinbase with a neutral rating and a price target of $250, indicating an upside potential of approximately 43% from the current price of around $175. Morgan Stanley believes that Coinbase is becoming a key bridge between traditional finance and digital assets, with its universal exchange strategy expanding its business into stocks, commodities, prediction markets, pre-IPO exposure, and tokenized assets. Additionally, its custody, financing, stablecoin partnerships, and Base network position the company across the infrastructure layer.

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