Mara Holdings price target raised to $15 from $11 at Rosenblatt

Rosenblatt analyst Chris Brendler raised the firm’s price target on Mara Holdings (MARA) to $15 from $11 and keeps a Buy rating on the shares. The firm says Mara’s acquisition of Long Ridge “represents another major step forward” in the company’s shift from a pure-play bitcoin miner toward an energy-backed digital infrastructure platform. Unlike most peer acquisitions, the deal is “not a greenfield site hoping for a grid connection,” it is a a fully operational 505 MW power plant generating over $140M in annualized EBITDA, the analyst tells investors in a research note.