Bitcoin Miner MARA Holdings Upgraded to Overweight at JPMorgan; IREN and Riot Cut to Neutral

Description

Wall Street bank JPMorgan reshuffled ratings and price targets on a group of bitcoin miners to begin the week. Updating estimates for the group to reflect second-quarter earnings and changes to the network hashrate and the bitcoin price, the bank upgraded MARA Holdings (MARA) to overweight and lifted its price target to $22 from $19, suggesting about 30% upside from the Friday close just above $17. IREN (IREN) was downgraded to neutral from overweight, though the price target was lifted to $16 f...