JPMorgan raised the firm’s price target on Mara Holdings (MARA) to $19 from $18 and keeps a Neutral rating on the shares. The firm updated bitcoin miner price targets and models to reflect the Q1 results and changes in bitcoin price and the network hashrate. JPMorgan applied a sum-of-the-parts valuation framework, which values miners based on their mining operation, land and power portfolio, and bitcoin holdings.
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