Crypto
MARA Stock Surges 14% Amid Bitcoin Rally and Wall Street Uncertainty
MARA Holdings' stock jumped 14% on Friday, September 18th, as Bitcoin surged near $81,000. The crypto mining sector benefited from this rally, with MARA being among those that saw a significant increase.
The move was partially attributed to Morgan Stanley's decision to nearly double its price target for MARA stock to $11 from $6. However, the bank still maintains an Underweight rating on the company. This new target is tied to MARA Holdings' shift away from pure Bitcoin mining and into AI data center power.
JPMorgan had downgraded MARA stock to Underweight just four days prior, cutting its price target to $11 from $13. Despite this mixed reaction from Wall Street, the company's mean target of $18 sits 39% above Friday's close.