Cantor Fitzgerald Boosts Crypto Stocks Amid Market Downturn
Cantor Fitzgerald has made significant moves in the crypto space, upgrading its rating and price targets for several companies. The firm upgraded Block (XYZ) to 'Buy' from 'Hold', citing progress from the company's AI-focused reorganization. StoneX analyst Mark Palmer led this upgrade, setting a $105 price target.
Palmer pointed to shipping velocity, a permanently lower cost base, and a pipeline of new growth engines as evidence of Block's success in its reorganization. He also highlighted impressive output from the company's agentic AI platform and margin improvement as significant dividends.
Cantor Fitzgerald has also raised its price targets on crypto treasury companies Sharplink Gaming (SBET), Forward Industries (FWDI), and Bitmine Immersion Technologies (BMNR). The firm maintained an 'Outperform' rating on all three stocks, predicting that the current bear-market drawdown will likely have bottomed by October 2026.