Mara Holdings price target raised to $29 from $22 at Macquarie

Macquarie raised the firm’s price target on Mara Holdings (MARA) to $29 from $22 and keeps an Outperform rating on the shares post the Q3 report. The firm cites the recent sector re-rating for the target increase. Mara is using acquisitions to grow the business and ultimately lower costs, the analyst tells investors in a research note. Macquarie says the company’s Q3 expansion strategy saw its fleet grow 7% to 268,000 miners.