Morgan Stanley initiated coverage of Coinbase Global Inc.’s Class A shares with an Equal Weight rating and a $250 price target. The bank said Coinbase has meaningful strategic value through its market positioning, but its earnings remain highly cyclical and a growing share of incremental growth comes from less-proven businesses. Earlier reports described the rating as neutral. Coinbase shares closed at $174.72, down 2.36% from the previous trading day, in the session cited in Sept. 10 reports by PANews and Odaily.