Morgan Stanley Starts Coverage on Marathon Digital (MARA)

Analysts issue an underweight rating and $8 price target on the crypto mining company's stock.

Published on Feb. 12, 2026

Got story updates? Submit your updates here. ›

Morgan Stanley has initiated coverage on shares of Marathon Digital (NASDAQ:MARA), a digital asset technology company specializing in bitcoin mining. The investment bank assigned an underweight rating and a $8.00 price target on the stock.

Why it matters

Marathon Digital is one of the largest publicly traded bitcoin mining companies, so Morgan Stanley's coverage initiation and underweight rating could impact investor sentiment and the stock's performance going forward.

The details

In its research note, Morgan Stanley cited concerns about Marathon Digital's operations and growth prospects compared to its competitors. The bank believes the company faces challenges in scaling its mining operations and maintaining profitability amidst the volatile crypto market.

  • Morgan Stanley initiated coverage on Marathon Digital on Monday, February 12, 2026.

The players

Marathon Digital

A digital asset technology company specializing in bitcoin mining, headquartered in Las Vegas, Nevada.

Morgan Stanley

A global financial services firm that has initiated coverage on Marathon Digital's stock.

Got photos? Submit your photos here. ›

What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

Morgan Stanley's underweight rating and low price target on Marathon Digital stock suggests the investment bank has concerns about the company's ability to maintain its competitive edge and profitability in the rapidly evolving crypto mining industry.