MORGAN STANLEY DOWNGRADES COINBASE, SLASHES PRICE TARGET TO $120 Morgan Stanley downgraded Coinbase (COIN ) to Underweight from Equal-weight, cutting its price target to $120 from $258, a 53% reduction. Analyst Michael Cyprys cited weakening trading activity, a disappointing revenue outlook and uncertainty following the $6.3 billion Binance hack. The bank lowered its 2027 revenue forecast by 28% and adjusted EBITDA estimate by 47%. Q3 revenue of $1.22 billion missed Morgan Stanley's forecast by 6%.(彭博社)