Compass Point analyst Chris Allen on Monday lowered his price target on cryptocurrency exchange Coinbase (NASDAQ:COIN) to discount its expense outlook for 2022. Cut price target to $200 per share, implying 13% upside from Friday's close. The analyst also cut 2022 EPS to -$0.96 from $7.27 and 2023 EPS to -$0.80 from $7.59. "We have been cautious on COIN in recent periods in large part due to regulatory uncertainty and concerns on the potential for pricing compression convergence between Coinbase/Coin Pro, increased institutional incentives, and competition over the longer-term," Allen wrote in a note to clients. Wall Street analysts rate COIN with a Buy rating (10, Strong Buy, 6 Buy, 5 Hold). SA contributors are bullish as well (4 Strong Buy, 3 Buy, 2 Hold). Meanwhile, COIN stock is off by 1.6% out of the gate, while bitcoin (BTC-USD +1.4%) manages to turn back into net positive territory. Previously, (Feb. 23) J.P. Morgan
