Woofun AI reports that Citigroup reduced its price target for Coinbase Global Inc. (COIN) by 41%, setting the new level at $235 per share from the previous $400. The adjustment reflects concerns regarding regulatory headwinds, specifically the ongoing lawsuit filed by the SEC in June 2023, as well as declining retail trading volumes. Although the revised target implies upside from current levels near $180, COIN shares declined in pre-market trading, extending a year-to-date drop of more than 30%. This move aligns with broader Wall Street adjustments as initial post-ETF optimism fades and competition intensifies.