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Morgan Stanley downgraded the rating of a certain exchange to Underweight, with a target price reduced to $120.

Morgan Stanley downgraded the rating of a certain exchange to Underweight, with a target price reduced to $120.

AiCoinAiCoin2026/11/02 13:27
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Morgan Stanley has downgraded the stock rating of a certain exchange from equal weight to underweight, lowering the target price from $258 to $120. Analyst Michael Cyprys stated that weakening trading trends and cryptocurrency market uncertainty are impacting profitability. The exchange's fourth-quarter trading revenue is expected to be $165 million, below the market consensus of $685 million. Following a $6 billion-scale hacking incident, cryptocurrency trading at the exchange came to a halt, dragging down its profitability and stock price. Morgan Stanley has lowered its 2027 revenue and EBITDA forecasts. (Source: CNBC)
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