Compass Point downgraded Mara Holdings (MARA) to Neutral from Buy with a price target of $25, up from $21. While Mara is an “outsized beneficiary” of higher bitcoin prices due to its “hold on for dear life” strategy, Compass does not see much additional upside from the base business itself and thinks the majority of upside comes from the balance sheet, the analyst tells investors in a research note. The firm cites valuation of the company’s fundamentals for the downgrade. It increased the price target on higherbitcoin prices
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Read More on MARA:
- Mara Holdings downgraded to Neutral from Buy at Compass Point
- Mara Holdings completes $1B offering of convertible senior notes
- Trump team weighing White House crypto role, Bloomberg reports
- Mara Holdings price target raised to $29 from $22 at Macquarie
- Mara Holdings announces private offering of $700M of convertible notes
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
