Mara Holdings price target raised to $26 from $23 at Piper Sandler

Piper Sandler raised the firm’s price target on Mara Holdings (MARA) to $26 from $23 and keeps an Overweight rating on the shares. As it began more seriously exploring AI/HPC deals earlier this year, Mara Holdings halted the remaining build-out of its Corsicana mining facility and has sold its last several months’ worth of bitcoin mining production. Eventually, the firm expects Mara Holdings to convert the entirety of both its Corsicana and Rockdale facilities into AI/HPC data centers as this likely proves to be the higher IRR opportunity.