Crypto Stock Upgrades and Price Targets Soar Amid Bear-Market Expectations

Cantor Fitzgerald's analysts have upgraded their rating on Block (XYZ) to 'Buy' and increased price targets for crypto-linked stocks Sharplink Gaming, Forward Industries, and Bitmine Immersion Technologies.

The firm raised the price target on Sharplink Gaming to $17 from $8.30, doubled the price target on Forward Industries to $16 from $8, and increased the price target on Bitmine Immersion Technologies to $63.60 from $30.60.

Cantor Fitzgerald maintains an 'Outperform' rating on all three stocks and believes that the current crypto bear-market drawdown will likely bottom by October 2026.

Morgan Stanley initiated coverage of Coinbase with an 'Equal Weight' rating, citing caution on the company's cyclical earnings.