Investors were eager to hold shares of Mara Holdings (NASDAQ: MARA) on Tuesday. This was readily apparent with the stock’s 10% rise in value on the day due in no small part to a monster price-target increase from an analyst. Mara’s double-digit surge easily outpaced the 0.3% increase of the bellwether S&P 500 index that trading session.
Before market open, Compass Point pundit Michael Donovan nearly doubled his fair value assessment on Mara Holdings. He now believes it can reach a price of $30 per share, a level significantly higher than his previous estimation of $18. Despite the heavy raise, Donovan wouldn’t be a buyer of the stock, as he maintained his neutral recommendation.
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