Rosenblatt has increased its price target for Marathon Digital Holdings (MARA, Financial) from $17 to $20, maintaining a Buy rating.

The price of Bitcoin (BTC) recently reached a peak, which presents growth potential for Bitcoin mining stocks like Marathon Digital (NASDAQ:MARA), according to Rosenblatt. As a result, the firm has increased its price target for Marathon Digital from $17 to $20 while maintaining a Buy rating.
According to the latest research note, the firm continues to see opportunity in the Bitcoin mining sector. Benzinga previously reported that Rosenblatt is optimistic about Marathon's performance at the current share price, leading to elevated estimates and targets within the sector.
The firm highlights a deceleration in network hashrate growth, which is enhancing miner profitability. However, Rosenblatt acknowledges that this view may be divergent from the consensus on Bitcoin's price and the impact on miners' profitability.
According to the analysis of 12 brokers over the last three months, the average price objective for Marathon Digital is $20.21, with a high price target of $32.00 and a low price target of $9.50. The price objective set by the brokers indicates an increase of 37.19 from the current price of $14.73.
The table below shows more of the latest price targets and ratings from other brokers.
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