Credit ratings agency Moody's has downgraded its ratings of coinbase to negative, citing the SEC’s lawsuit as cause for concern. Berenberg Capital also adjusted its outlook, slashing its COIN shares price target from $55 to $39.
Credit ratings agency Moody's has downgraded its rating of Coinbase from “stable” to “negative” following thestatement
“The change in outlook to negative from stable reflects the uncertain magnitude of impact the SEC’s charges will have on Coinbase’s business model and cash flows.” In emailed comments to Cointelegraph, Berenberg research analyst Mark Palmer explained that the reduction in the price target reflects their view that Coinbase could see its already-weak Q2 trading volumes “persist and intensify” as a result of the SEC’s charges, explaining:
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