Macquarie has cut its price target for MARA Holdings to $20, down from $26.

MARA · MARA Holdings, Inc.

The AI's read

A lower estimate suggests Macquarie now sees less value in MARA shares. Keeping the Outperform rating points the other way. Neither statement reports a change in MARA's operations, so this update gives no clear reason to change how we read the business.