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Crypto Exchange Coinbase Global Labeled Underweight by Wells Fargo

Katie Lin

Summary: According to reports by CoinDesk, crypto exchange Coinbase Global was given an underweight rating by Wells Fargo on Thursday. The exchange has been seeing a fall in profits as of late due to increased competition in market shares and lower retail prices. Wells Fargo gave Coinbase a $57 price target. On Thursday morning, it had ...

According to reports by CoinDesk, crypto exchange Coinbase Global was given an underweight rating by Wells Fargo on Thursday.

The exchange has been seeing a fall in profits as of late due to increased competition in market shares and lower retail prices.

Wells Fargo gave Coinbase a $57 price target. On Thursday morning, it had been trading at $61.

Analyst Jeff Cantwell believes that current conditions for the company are likely to remain for a while.

Author: Katie Lin

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