Downgrade
2026-02-12
Monness Crespi & Hardt
RatingNeutral
FromBuy
Target$120
From—
Baird initiated Coinbase at Neutral ($240) on Jan 28, and Cantor Fitzgerald resumed at Overweight ($277). BofA upgraded to Buy ($340) in January. Consensus is Hold at $119 average target — crypto cycle dynamics and regulatory clarity remain the key swing factors.