H.C. Wainwright double downgraded Coinbase (COIN) to Sell from Buy with a $300 price target The firm cites valuation for the downgrade. It still views Coinbase as a “Best of Breed” crypto exchange and remains positive on the sector. However, the stock’s valuation has “outstripped near-term fundamentals” following the 150% rally since the April lows, the analyst tells investors in a research note.
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