Citi Cuts Coinbase Price Target to $235 From $400
JOON HYOUNG LEE
Forecast Trend Report by Period
Citigroup has sharply lowered its price target for US cryptocurrency exchange Coinbase.
Odaily reported on July 23 that Citi cut its target price on Coinbase to $235 from $400. That marks a reduction of more than 41% from the previous target.
JPMorgan has also recently lowered its target price on Coinbase to $196 from $283. The bank said Coinbase is facing structural pressure on earnings as competition intensifies across the industry.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul