Coinbase price target lowered to $90 from $105 at Citi

Citi analyst Peter Christiansen lowered the firm’s price target on Coinbase to $90 from $105 and keeps a Neutral rating on the shares. The analyst says the stock remains rangebound since last quarter’s results as the company’s litigation efforts versus the SEC continues. While Q3 industry-wide crypto volumes show continued decline, Ripple’s, now Greyscale’s court win “offers some green shoots for the space,” the analyst tells investors in a research note. Citi continues to like Coinbase’s position, though remains at Neutral until the regulatory picture becomes more clear.