6.6 Investments 摩根士丹利将Coinbase评级下调至“减持”，目标价降至120美元，因交易疲软、营收前景不佳及Binance安全事件影响信心。
摩根士丹利将Coinbase Global（COIN）的评级由“持平大盘”下调至“减持”，并将目标价从258美元大幅下调至120美元，主要原因是交易趋势疲软及营收前景不佳。该行对Coinbase盈利复苏的信心减弱，指出其第三季度营收为12.2亿美元，较预期低6%，而预计第四季度交易营收将比此前预期低约50%。 尽管Coinbase未直接受影响，摩根士丹利仍提及近期Binance发生的63亿美元安全漏洞事件，认为此事件可能削弱市场对中心化加密平台的信心，并加剧监管审查压力。 此外，摩根士丹利分别下调了2027年和2028年营收预测28%和18%，并将调整后EBITDA预期下调47%和25%。修订后的2028年调整后EBITDA为24亿美元，比2025年低14%，显示复苏力度有限。尽管Coinbase积极推动业务多元化，零售现货交易仍是其核心业务。
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