Citigroup lowers Coinbase's target price to $65, rating downgraded from "Buy" to "Neutral."

ChainCatcher news, Citibank stated in a research report on Monday that Coinbase (COIN) will continue to be weighed down by high uncertainty until better cryptocurrency regulations are established in the United States. Citibank downgraded Coinbase's stock rating from Buy to Neutral and lowered the target price from $80 to $65. Coinbase's stock price fell 1.2% to $49.54 in pre-market trading.
Analysts led by Peter Chistiansen wrote, "The idea of Coinbase re-registering outside the U.S., the company's public response, and now the formal lawsuit against the SEC all indicate that the Well process has not yet been fruitful." (CoinDesk)