Morgan Stanley initiates MARA stock with Underweight rating, $8 target
#Morgan Stanley #MARA Holdings #Bitcoin mining #Underweight rating #Stock market analysis #Equity research #Marathon Digital
📌 Key Takeaways
- Morgan Stanley initiated coverage of MARA Holdings with a bearish 'Underweight' rating.
- The investment bank set a price target of $8.00, implying a significant drop from recent market prices.
- Analysts are concerned about the competitive landscape and high operational costs in the Bitcoin mining sector.
- The rating comes as crypto miners face increased difficulty and reduced rewards following the Bitcoin halving.
📖 Full Retelling
🏷️ Themes
Finance, Cryptocurrency, Stock Market
📚 Related People & Topics
Morgan Stanley
American financial services company
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 42 countries and more than 80,000 employees, the firm's clients include corporations, governments, institutions, and individu...
Bitcoin protocol
Rules governing the functioning of cryptocurrency
The bitcoin protocol is the set of rules that govern the functioning of bitcoin. Its key components and principles are: a peer-to-peer decentralized network with no central oversight; the blockchain technology, a public ledger that records all bitcoin transactions; mining and proof of work, the proc...
MARA Holdings
American patent holding company
MARA Holdings, Inc. (formerly Marathon Digital Holdings and Marathon Patent Group) is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the l...
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📄 Original Source Content
try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry As Claude disrupts stock market, Anthropic researcher warns ’world is in peril’ Gold, silver prices rise amid U.S.-Iran tensions, blowout January payrolls data Dow halts three-day win streak as blowout jobs data curbs rate cut bets Citi pushes back Fed rate cuts to May after blowout January jobs report (South Africa Philippines Nigeria) Morgan Stanley initiates MARA stock with Underweight rating, $8 target Analyst Ratings Published 02/09/2026, 01:51 AM Morgan Stanley initiates MARA stock with Underweight rating, $8 target 0 MARA -1.11% Bitcoin US Dollar -1.92% Investing.com - Morgan Stanley initiated coverage on MARA Holdings Inc (NASDAQ:MARA) with an Underweight rating and an $8.00 price target on Monday, just below the stock’s current price of $8.24. According to InvestingPro data, MARA is currently trading at a P/E ratio of 3.85. The investment bank cited three factors limiting MARA’s potential upside from Bitcoin-to-data center conversions: the company’s "hybrid" approach rather than focusing solely on leasing data centers to hyperscalers, its strategy of maximizing exposure to Bitcoin price upside, and its limited transaction history in hosting data centers. This cautious outlook comes despite MARA being profitable over the last twelve months with a diluted EPS of $2.12. Morgan Stanley emphasized that Bitcoin mining economics remain the dominant driver of MARA’s stock value, with the firm using a 5x P/E multiple approach to value the Bitcoin mining operations. The analysts based their Bitcoin pricing expectations on variance derived from sensitizing total crypto trading volume growth across a range of 6-30% annually, using the midpoint for their base case and the high and low ends for bull and bear cases respectively. Morgan Stanley expressed significant concerns about the profitability of Bitcoin mining in both near and long terms, noting that the "historical ROIC of the Bitcoin mining business has been...