Mizuho Securities and other investment firms have reduced their price targets for Coinbase (COIN) and MicroStrategy (MSTR) following a decline in Bitcoin's value. Mizuho analysts cut Coinbase's target by 39.3% to $170 and MicroStrategy's by 20.6% to $320. This move reflects a cautious outlook on the crypto sector as Bitcoin struggles to recover after falling below $70,000.
Other firms, including Benchmark, Canaccord, Piper Sandler, JPMorgan, and Needham, have also lowered their targets for Coinbase, with COIN currently trading at $164.32, down 34% over the past month. Despite these revisions, some analysts maintain a buy rating for Coinbase, citing its diversified revenue streams and strong fundamentals. MicroStrategy continues its Bitcoin accumulation, recently purchasing 2,486 BTC, despite sitting on unrealized losses.
Mizuho and Others Slash Price Targets for Coinbase and MicroStrategy Amid Bitcoin Slump
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