TeraWulf (WULF) shares rose over 12% in morning trade on Wednesday after Morgan Stanley raised its price target on the stock to $72 from $66.50 with an 'Overweight' rating, while Mara Holdings (MARA) fell almost 2% and Riot Platforms (RIOT) traded flat as the broader market weakened. Morgan Stanley cut its Mara Holdings target to $5.50 from $7 and maintained an 'Underweight' stance, while Citi raised its Riot Platforms target to $28 from $21 with a 'Buy' rating. The moves came as President Donald Trump said at the NATO summit that the U.S.-Iran ceasefire is 'over,' contributing to a risk-off move in equities. The diverging analyst actions highlight contrasting outlooks across Bitcoin mining stocks, with TeraWulf benefiting from recent upgrades tied to its $19 billion, 20-year lease deal with Anthropic.
Morgan Stanley Raises TeraWulf Price Target to $72, Cuts Mara Holdings to $5.50
Morgan Stanley raised its TeraWulf target to $72 from $66.50, keeping an 'Overweight' rating, as per TheFly. On the other end, the firm cut its Mara Holdings target to $5.50 from $7 and maintained an 'Underweight' stance. Citi separately raised its Riot Platforms target to $28 from $21 with a Buy rating, though the upgrade wasn't enough to offset the drag from the broader risk-off tone.
WULF's stock was the top trending ticker on Stocktwits on Wednesday morning, with retail sentiment trending in 'extremely bullish' territory over the past day, accompanied by 'extremely high' levels of chatter.
Retail Sentiment on Stocktwits Shows Diverging Trends
Chatter around MARA and RIOT's stock stayed at 'high' levels over the past day, but one saw a dip in retail sentiment. Sentiment around RIOT fell to 'bearish' from 'neutral' territory, while sentiment around MARA stayed in the 'neutral' zone.
Price Target Upside Calculations Reveal Wide Performance Gap
At TeraWulf's new Morgan Stanley target of $72, the stock would need to climb roughly 242% from its $21.06 opening price Tuesday. Even against the stock's average analyst price target of $38.59, that implies upside of about 83%.
The outlook for Mara Holdings tells a different story at Morgan Stanley's lowered price target of $5.50. The stock would need to fall about 53% from its $11.73 open on Wednesday, sitting well below its $18.40 average price target, which itself implies a roughly 57% upside.
Riot Platforms sits closer to its average target, with Citi's new $28 figure implying upside of about 32% from its $21.23 open, versus roughly 37% upside to its $29.15 average target.
Year-to-Date Stock Performance Across Three Miners
The divergence in price targets mirrors the wider gap in year-to-date performance across the three miners. TeraWulf's stock is up 85% so far this year, the strongest performer of the group, while Riot Platforms has gained 63%. Mara Holdings, by contrast, has climbed just under 30% over the same period.
Needham and Rosenblatt Raise TeraWulf Targets Following Anthropic Lease
The uptick in WULF's stock follows a wave of analyst upgrades tied to TeraWulf's $19 billion, 20-year lease deal with Anthropic. Needham raised its TeraWulf price target to $33 from $28 on Tuesday, citing the Anthropic lease, and maintained a 'Buy' rating. Needham analyst John Todaro said the company signed "one of the more attractive leases in the sector," which showed that demand remained robust.
Rosenblatt also increased its price target on TeraWulf to $30 from $27, with a 'Buy' rating on the shares. The new contract with Anthropic is "a significant positive" that validates the company's brownfield development strategy and increases confidence in its ability to attract top-tier hyperscaler tenants, analysts told investors.
FAQ
What did Morgan Stanley do with its TeraWulf price target on Wednesday?
Morgan Stanley raised its TeraWulf price target to $72 from $66.50 and kept an 'Overweight' rating. The firm also cut its Mara Holdings target to $5.50 from $7 and maintained an 'Underweight' stance.
Why did WULF stock rise while MARA and RIOT fell on Wednesday?
WULF stock rose over 12% in morning trade after Morgan Stanley's price target hike, while MARA fell almost 2% and RIOT traded flat as the broader market weakened following President Donald Trump's statement at the NATO summit that the U.S.-Iran ceasefire is 'over.'
