tiprankstipranks

Citi downgrades Coinbase to Neutral on regulatory uncertainty

Citi downgraded Coinbase to Neutral from Buy with a price target of $65, down from $80. The analyst continues to believe that Coinbase is a category leader and one of the better positioned platforms should broader integration with traditional finance occur. However, Coinbase is now tasked to advocate for a "reputationally damaged industry and pave a sustainable pathway towards regulatory compliance," the analyst tells investors in a research note. Citi believes that until the regulatory "rules of the road" are better established in the U.S., the stock will remain "weighed down by this high level of uncertainty."

Confident Investing Starts Here:

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on COIN:

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.

Report an Issue