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Coincheck downgraded to Neutral from Overweight at Cantor Fitzgerald

Cantor Fitzgerald last night downgraded Coincheck (CNCK) to Neutral from Overweight with a price target of $6, down from $9, following the fiscal Q1 report. The firm reduced estimates to reflect lower trading volumes and lower take-rates. It cites the estimate cuts and Coincheck’s valuation for the downgrade.

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